Enterprise Inns says REIT status possible by October1

LONDON (Reuters) - Pub group Enterprise Inns (ETI.L: Quote, Profile, Research) said on Tuesday it was likely to decide in favour of converting into a low-tax property vehicle and that it might be able to do this by the start of its next fiscal year on October 1.

"It is likely that the board would consider it a good idea," Chief Executive Ted Tuppen told Reuters when asked whether it would back converting into a Real Estate Investment Trust (REIT).

"It would clearly be good if we can get it done by the beginning of the financial year and it's not impossible," he said in a telephone interview.

"We've got a timeframe that would seek to get us converted by the autumn."

Tuppen said Enterprise Inns spent about 2.5 million to 3 million pounds helping tenants to cope with tough trading conditions in the first half of its financial year by, for example, giving them short-term concessions on rents.

"This is likely to continue for some time," he said.

(Reporting by Mark Potter; editing by Rory Channing)