31st Mar 2006 07:01
Enterprise Inns PLC31 March 2006 31 March 2006 ENTERPRISE INNS plc PRE-CLOSE PERIOD TRADING UPDATE Enterprise Inns plc (Enterprise), which will be announcing its interim resultsfor the six months ending 31 March 2006 on 16 May 2006, provides an update ontrading. Since the AGM statement made on 19 January the business has continued to performwell in a market made challenging by relative consumer weakness and continuingcost and legislative pressures on our licensees. The Board expects that bothoperating profit and profit before tax will be in line with its expectations forthe six months to 31 March 2006 and we remain confident that our high qualityestate will continue to deliver solid growth in shareholder value. We have made good progress with the share buy-back programme that was announcedlast November and have purchased 21.1 million shares at an average price of£9.05 per share, therefore returning £191 million to shareholders. This is aheadof schedule to achieve the minimum target of £200 million we set for the currentfinancial year. We will continue to buy-back shares during the second half ofthe financial year taking into account the cash flow needs of the business. Enquiries Emma Baines Assistant to Chief Executive 0121 256 3050 or 07990 550210 Ted Tuppen Chief Executive 0121 256 3030 David George Finance Director 0121 256 3040 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
EI Group