Whitbread H1 Revenue Increases
Published:13-October-2009
By Staff Reporter
Group like for like sales decreases by 2.7%
Whitbread has reported a revenue of £703.3m for the six month period ended August 27, 2009. Total revenue has increased to £703.3m compared to £682.2m an increase of 3.1% for the comparable period previous year.
Group like for like sales decreased by 2.7%. Underlying profit before tax of £118.2m decreased 2.7% compared to £121.5m for the same period previous year. Diluted earnings per share decreased to 47.33p compared to 49.14p for the same period prior year.
Anthony Habgood, chairman of Whitbread, said: “Whitbread is coming through a difficult period relatively well. Total revenues at our hotels and restaurants business were marginally lower while at Costa they were up more than 20%. We remain focused on managing the business tightly during these challenging times and ensuring the Company is well-placed to benefit when conditions improve.”
Alan Parker, Chief Executive of Whitbread PLC, said: “In the face of the toughest trading conditions for years, we have taken strong management actions to outperform the market and reduce costs. Encouraging progress has been made, which has continued into the second half of the year. Whitbread's value for money brands have considerable appeal for today's price conscious customers. We remain confident about the outturn for the year, subject to any marked deterioration in the economic environment."
