Enterprise Inns on track for full year expectations as income grows

Enterprise Inns has seen like-for-like net income in its leased and tenanted estate grow 1.6% for the 19 weeks to 6 February 2016.

In a trading update on Thursday, the FTSE 250 company said it is a result of stabilising rental income, growing income from beer sales and driven by the provision of operational support and commercial benefits to its publicans.

The company also said its strategy implementation announced in May 2015 is on track.

It said the trading performance and expansion of its managed house operations is progressing in line with plans, and it expects to have in excess of 100 managed houses operational by 30 September.

Enterprise Inns said it is also growing its portfolio of quality commercial properties, with over 300 in its portfolio by the end of the financial year.

Chief executive Simon Townsend said the results give the group confidence that it is on track to meet expectations for the full financial year.