LONDON (AFX) - Enterprise Inns PLC said the business has continued to perform strongly in the first quarter, and over the Christmas and New Year period, with both earnings and cash generation in line with expectations.
In a statement prepared for the company's AGM later this morning, chairman Hubert Reid says the priority during the current year is to complete the integration of Unique and to strive for continuous improvement in all aspects of the business.
The performance within the Unique business, acquired in March 2004, is allowing Enterprise to repay 170 mln stg of bank debt through an issue of additional secured bonds which is anticipated to take place in February.
In respect of the dividend level, the company says the policy for future years will be reviewed taking account of the needs of the business and having consulted with shareholders. Reid says the board expects to announce the outcome of this review with preliminary results for the year ending Sept 30 2005.
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In a statement prepared for the company's AGM later this morning, chairman Hubert Reid says the priority during the current year is to complete the integration of Unique and to strive for continuous improvement in all aspects of the business.
The performance within the Unique business, acquired in March 2004, is allowing Enterprise to repay 170 mln stg of bank debt through an issue of additional secured bonds which is anticipated to take place in February.
In respect of the dividend level, the company says the policy for future years will be reviewed taking account of the needs of the business and having consulted with shareholders. Reid says the board expects to announce the outcome of this review with preliminary results for the year ending Sept 30 2005.
newsdesk@afxnews.com slm/
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
© 2005 AFX News
