Pre Close Trading Statement H
WHITBREAD INTERIM MANAGEMENT STATEMENT
Thursday 4th September 2008
Whitbread PLC, the hotel and restaurant group, today reports a continuation of its positive start to the year.
Sales for 24 weeks to 14th August 2008
|
|
% change vs. prior year |
|
|
|
Like for like sales |
Total sales |
|
Premier Inn |
10.2% |
17.9% |
|
Pub restaurants |
4.4%* |
6.0% |
|
Costa |
3.7% |
23.6% |
|
|
|
|
|
Total |
7.0% |
14.2% |
|
13 Weeks ended 29th May 2008 |
7.1% |
14.6% |
Alan Parker, Chief Executive, Whitbread PLC comments:
Whitbread has made excellent progress with strong growth across the group. Total sales have grown 14.2% and like for like sales 7.0%.
Premier Inn has outperformed the hotel market with total sales increasing 17.9% and like for like sales 10.2%. This positive growth has been driven by 7.6% more rooms sold in our expanded estate and REVPAR increasing 5.8%. Strong demand has been maintained in the commercial market, as corporate buyers are increasingly attracted to Premier Inn's value-for-money price and facilities. In the period we have opened 14 hotels and 1,157 rooms and we remain on course to achieve over 4,000 new rooms this year.
Our pub restaurants have improved performance with total sales up 6.0% and like for like sales up 4.4%*. Guests have responded well to our revised brand formats with a growth in covers of 9.3%. We have responded to food and energy cost inflation through increased operational efficiency and with lower cost options on our menus.
Costa continues to demonstrate good growth with total sales growing 23.6%. Following a strong second quarter last year, like for like sales increased 3.7%. The estate expanded to 1,100 stores, 769 in the UK and 331 overseas. Since March 108 units have been added overall, 74 in the UK and 34 overseas, including our first stores in Beijing.
Whitbread has continued to be resilient in a period of consumer uncertainty. We believe this to be as a result both of the action taken in recent years to re-shape the group and our continuing emphasis on value for money. Our strong balance sheet and disciplined approach to investment put us in a good position to take advantage of additional growth opportunities. We remain vigilant in these challenging economic times and are alert to whatever further action is required.
Whitbread will announce its half year results on the 14th October 2008.
End
*2.4% excluding closure periods.
Conference call for analysts and investors
Alan Parker and Christopher Rogers will be available for a conference call at 8.00am today. To participate, dial 0845 140 0165 and enter the passcode 61328610.
A recording of the conference call will be available until 10th September. To listen, dial 0845 245 5205 and enter the passcode 61328610#. This service will be active approximately two hours after the conference call has finished.
For more information please contact:
Investor Relations
Christopher Rogers, Whitbread PLC +44 (0) 20 7806 5491
Press Contacts
Julie Foster, Whitbread PLC +44 (0) 20 7806 5480
Andrew Grant, Tulchan +44 (0) 20 7353 4200
David Allchurch, Tulchan +44 (0) 20 7353 4200
For photographs please visit the image library on www.whitbreadimages.co.uk
This information is provided by RNS
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