Whitbread posts rise in half year profit

BRITAIN’S biggest hotel and coffee shop operator Whitbread posted a 12.6 per cent rise in first half profit as new Premier Inn hotels and Costa Coffee stores helped to boost sales.

By The Newsroom

Published 22nd Oct 2013, 09:20 BST

The group, which also operates pub restaurant chains, said underlying pre-tax profit rose to £216.1m in the six months to August 29, up from £191.9m in the same period last year. Revenues jumped 12.4 per cent to £1.14bn.

This compares with a company compiled consensus forecast for £213m underlying pre-tax profit.

Total sales at Premier Inn rose 12.2 per cent and were up 3.3 per cent on a like-for-like basis. Total sales at Costa Coffee rose by 20.9 per cent with UK stores up 5.5 per cent on a like-for-like basis.