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Pub group Ei swings to loss as operating costs, writedowns weigh

By BFN News | 01:50 PM | Tuesday 19 November, 2019


Pub group Ei swung to a full-year loss as operating costs rose and it wrote down the value of its assets. Pre-tax losses for the year through September amounted to £199m, compared to a profit of £87m on-year. Revenue rose to £724m, up from £695m, while underlying Ebtida fell to £276m from £287m following the sale of 354 commercial property assets during the year. Ei in September accepted a takeover bid by Stonegate Pub Company at 285p per share, which was still awaiting clearance from UK competition authorities. The deal was expected to be completed by the first quarter of 2020. At 1:50pm: (LON:EIG) EI Group Plc share price was -0.1p at 281.9p Story provided by StockMarketWire.com

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