Enterprise Inns: 4% drop in net income per pub

http://www.morningadvertiser.co.uk/news.ma/ViewArticle?R=85655

Spot on Tony, as usual. To take a snppet of the statement:

“However, as we continue to improve the quality of our estate both through investment and the disposal of unsustainable pubs, we remain confident in our strategy and believe that we are well positioned to drive the business forward through these difficult times.”

Dearest darlings Ted and Simon, to show evidence of the confidence you have in your company's strategy, how about letting a journalist and a photographer take the sparkling example of your pub, The George Canning, Camberwell SE5, as a case study of your skills at turning around struggling businesses in your portfolio generally?

It's a marvellous example of much of the whole tied pub industry and its complications. There, following your company's skillful and sensitive circa (I'd bet a dollar) £140K refurbishment, you have managed to turn a loss-making £6-8K a week turnover pub, somewhat in need of TLC, in a quality area into a characterless, soulless sophisticated, vibrant, £3K a week, open all hours from croissants and muffin to bedtime cocoa and biscuits and everything else in between, dis-astro pub: http://snipurl.com/u5iiw

My oh my just HOW does a company manage all that with all that money and creative inspiration behind it? Then you might look at the other Enterprise pubs in the area - even those that aren't your website for assignment - and ask the people who own the leases and actually RUN the pubs what's really happening on the ground. I cannot believe this area is very much unrepresentative of the rest of your estate.