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PUBS FIRM LACKS FIZZ

ABOVE: Up to 500 pubs will be sold

18th November 2009

By Brendan Abbott

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ENTERPRISE Inns expects to sell up to 500 pubs next year as rising unemployment, higher taxes and public spending cuts take their toll on customers.

Chief executive Ted Tuppen said the group had sold 368 pubs last year as pre-tax profit fell from £263 million to £208m for the year to September.

Eventually, he expects the group’s estate to fall from about 7,400 pubs to between 6,000 to 7,000 in the longer term.

The shares fell 111⁄4p to 1221⁄2p.

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