Pubcos Struggle

Britain's biggest pubs group, said it would not pay a dividend in the current year and expected trading conditions to remain challenging, sending its shares down 11 percent on Tuesday.

The company stopped paying dividends in May 2009 to help reduce crippling debt of nearly £4 billion . Enterprise Inns disposed of 579 pubs during its fiscal year, raising 166 million pounds and generated proceeds of £114 million through a sale and leaseback programme. This helped it reduce net debt by £374 million to £3.3 billion.

Its estate now stands at 6,820 pubs valued at £5bn. Punch sold off 43 pubs during its year and has an estate of around 6,500. Both said that they intend to continue disposing of non-core pubs in the near-term.

Another rival, Mitchells & Butlers, announced yesterday that it has completed the sale of 330 "drinks-led" pubs to Stonegate Pub Co.

British Food Fortnight 2010

Thousands of activities will take place across the country during British Food Fortnight 2010 including food and drink festivals, promotions, tastings and special menus in pubs, restaurants and shops. The fortnight starts on 18th Sep 2010,ending on 3rd Oct 2010.

Seven major pub companies are taking part this year — Enterprise Inns, Everards, Marston’s Pub Company, Orchid Pub Group, Scottish & Newcastle Pub Company, Young’s and Punch Taverns.

“British Food Fortnight is a key business-building opportunity for pubs,” says Alan Todd, catering development manager at Punch, which encourages licensees to participate in the event.