LONDON (dpa-AFX) - Ei Group plc announced the financial year has started well for its leased and tenanted business with like-for-like net income growth of 2.0% in the 18 weeks to 2 February 2019. The Group said the Christmas trading period was particularly strong and the trading in January remained in line with its expectations.
Ei Group reported that the Pubs that have traded as managed pubs throughout both the 18 weeks to 2 February 2019 and the prior year comparative period delivered like-for-like sales growth of 5.7%, aided by a particularly strong Christmas trading period.
Simon Townsend, CEO, stated: 'The year has started well, with growth being maintained across our operating businesses and, despite the ongoing uncertainty regarding the consumer environment, we are on track to deliver our plans for the year. The proposed disposal of a substantial proportion of our commercial property portfolio is in line with our strategy of unlocking the embedded value from every asset within our business and monetising that value creation for the benefit of all stakeholders.'
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