Enterprise Inns - "Value" or "Growth" stock?

Thanks, pilkington, very interesting. If only ETI were on a PER of 13.4 I'd have no worries at all, but you are using the 'headline' eps figure of 100.9p which includes one-off property profits on the disposal of pubs and an interest rate 'swaps' payment. Strip these out and the adjusted 'underlying' eps of 68.3p puts them on a PER of nearly 20x. That's hot IMHO!

You may have mentioned that tax h(e)aven thing as a joke but, believe me, I have had just such a conversation with my accountant within the last week!

Regards, Ian