20th Jan 2005 07:00
Enterprise Inns PLC20 January 2005 20 January 2005 ENTERPRISE INNS plc AGM STATEMENT At the AGM to be held today at 11.00 am, Hubert Reid, Chairman of Enterprise Inns plc will make the following comments with regards to trading and the business since the start of the financial year 1 October 2004: "Our strategy remains focussed on building shareholder value through thedevelopment of our licensed estate and the optimal use of the cash flows whichare generated. Operationally, the priority during the current year is tocomplete the integration of Unique and to strive for continuous improvement inall aspects of our business. In respect of our dividend level, as set out at our preliminary results, thepolicy for future years will be reviewed taking account of the needs of thebusiness and having consulted with shareholders. We expect to announce theoutcome of this review with our preliminary results for the year ending 30September 2005. Our business has continued to perform strongly in the first quarter, and overthe Christmas and New Year period, with both earnings and cash generation inline with our expectations. The performance within the Unique business, acquired in March 2004, is allowingus to repay £170 million of bank debt through an issue of additional securedbonds which is anticipated to take place in February." Enquiries: Enterprise Inns plcTed Tuppen, Chief Executive 0121 256 3050David George, Finance Director 0121 256 3040 Gavin Anderson & CompanyDeborah Walter 020 7554 1400Rebecca Wyles 020 7554 1400 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
EI Group