Home Business News Ei Group posts modest profit rise

Ei Group posts modest profit rise

by LLB Reporter
14th May 19 2:23 pm

Ei Group the pub chain has posted a rise in pre-tax profits of £59m in the six months to end of March compared with £57m in the previous year, due continued growth in drink sales.

Earning before interest, tax, depreciation and amortisation (EBITDA) was up to £140m, and in early morning trading on Tuesday, shares were up more than 5%.

Simon Townsend, chief executive of Ei Group said, “Despite an environment of unprecedented political uncertainty and inflationary pressure from increases in the national minimum and living wage, consumers continue to support their local pub.

“This consumer resilience, combined with excellent operational execution and effective capital investment, provides us with the confidence that we can maintain our growth momentum for the year as a whole, despite some challenging comparative trading periods ahead of us in June and July.”

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