Trading Statement-Replacement
Whitbread PLC
4 March 2003
The 'Trading Statement' announcement released on 4 March 2003 at 07:00
under RNS No 2292I has been re-released to facilitate onward transmission by
third party vendors.
The announcement is unchanged and is reproduced in full below.
Whitbread Trading Statement - March 4, 2003
In the 51 weeks to February 22, total sales for the continuing businesses were
up 4%. Like-for-like sales growth combined with further improvements in
operating margins will mean that earnings for the full year will once again grow
well ahead of sales.
Like-for-like sales growth (%)
26 weeks 51 weeks
Marriott (1.7) (0.4)
Travel Inn 6.7 6.0
Brewers Fayre 3.5 3.8
Beefeater 1.4 0.6
David Lloyd Leisure 6.8 5.9 *
* 48 weeks
Marriott enjoyed a better second half and outperformed the four-star hotel
sector with a significant revpar premium to the market. This was an excellent
achievement given the uncertainties impacting international travel. The
efficiency measures taken in the wake of September 11 have delivered the
expected results.
Travel Inn's performance continues to be exceptional and it is now the UK's
largest hotel brand with 16,600 rooms. Achieved room rate was ahead and
occupancy improved even further as a result of higher brand awareness and new
web-based reservation systems.
In pub restaurants, Brewers Fayre is also the UK's largest brand with almost 400
units. The strong like-for-like sales performance was well ahead of its sector.
Beefeater's like-for-like sales reflected the disruption caused by 51
restaurants being put up for sale. The sale process is progressing well and
further details of the brand's development will accompany the preliminary
results announcement on April 30th.
David Lloyd Leisure's performance demonstrated that it remains the strongest
brand in the health and fitness club sector. Its focus on families and high
standards of member services meant that retention improved year-over-year and
recruitment for the critical month of January was well up on last year.
David Thomas, chief executive, said: 'The actions we have taken to improve the
performance of our brands have already delivered strong earnings growth for
three successive reporting periods. These action plans remain in place and,
coupled with our strategy of organic expansion, have continued to deliver
positive earnings growth even in these difficult market conditions.'
-end-
Contact:
City:
David Reed 020 7806 5436
Dan Waugh 020 7806 5442
Media:
Jeremy Probert 020 7806 5443
This information is provided by RNS
The company news service from the London Stock Exchange
Latest directors dealings
- 9 hours ago Savannah Energy
- 10 hours ago Buccaneer Energy PLC
- 11 hours ago Savannah Energy
- 11 hours ago Carclo
- 11 hours ago Schroder Japan Growth Fund