(Reuters) - Punch Taverns Plc (>> Punch Taverns plc), the second largest pub operator in Britain by number of pub estates, said pub reforms that came into effect in July is having a negative impact on letting activity in the first half of its new financial year.

Publicans tied to Britain's big pub companies, such as Enterprise Inn (>> Enterprise Inns plc) and Punch Tavern (>> Punch Taverns plc), were given greater powers to challenge rent prices and have a new independent adjudicator to turn to in disputes, under the new pubs code that came into force on July 21.

Punch, which operates around 3,300 pubs across the country, said that the impact was on near-term trading, but expectations for the longer-term growth remain unchanged.

Punch said average profit per pub across the entire estate for the full-year was up 4 percent helped by disposal of non-core pubs.

(Reporting by Rahul B in Bengaluru; Editing by Amrutha Gayathri)

Stocks treated in this article : Enterprise Inns plc, Punch Taverns plc