Join our community of smart investors

EI Group extends share buybacks

The pub company announced a £20m share buyback alongside full-year results
November 20, 2018

EI Group's (EIG) shares may not be trading far off their five-year high, but that hasn’t stopped the pub company from announcing a new £20m share buyback, having completed a similar £20m repurchase in March. Management believes this is the best use of surplus cash after repaying £101m-worth of corporate bonds, particularly as a similar logic prompted the last round of buybacks. Chief executive Simon Townsend also believes now is a good time to repurchase stock given the significant discount in the share price relative to net asset value.

IC TIP: Buy at 169p
This is subscriber only content
Start your trial to keep reading
PRINT AND DIGITAL trial

Get 12 weeks for £12
  • Essential access to the website and app
  • Magazine delivered every week
  • Investment ideas, tools and analysis
Have an account? Sign in