Enterprise Inns Posts FY14 Pretax Profit

Enterprise Inns PLC

posted a pretax profit in fiscal 2014. The company swung to a pretax profit of 36 million pounds ($56.39 million), versus a year-ago loss of GBP42 million. Its adjusted earnings per share came in flat at 19p. Its revenue fell to GBP632 million from GBP639 million. Excluding exceptional items, the company's adjusted pretax profit came in unchanged at GBP121 million. EBITDA before exceptional items fell to GBP313 million from GBP340 million. Ted Tuppen, Chief Executive said, "We are pleased to report an improving trend in our trading performance which, together with our actions to improve the quality of the estate and reduce our net debt, puts us on a clear path to return to growth in the near term.”