May 16 British pub landlord EI Group
reported a 1.6 percent rise in first-half revenue and said it
had made a good start to the second half, but was mindful of
possible economic uncertainty and pressure from new regulations.
Publicans tied to Britain's big pub companies, such as
Enterprise Inn and Punch Tavern, were given
greater powers to challenge rent prices and have a new
independent adjudicator to turn to in disputes under a new pubs
code that came into force on July 21, 2016.
"Whilst taking into account these factors, we are confident
that we will continue to deliver positive like-for-like net
income growth in our leased, tenanted and commercial estates for
the full year," EI Group said in a statement on Tuesday.
The firm, with over 4,500 properties, said revenue for the
six months to March 31 rose 1.6 percent but underlying earnings
before interest, tax, depreciation and amortisation (EBITDA)
fell 1.4 percent, reflecting the impact of a property sale.
EI Group sold a package of 18 properties on March 16, it
(Reporting by Rahul B in Bengaluru; Editing by Mark Potter)