Whitbread profits get Costa boost
Leisure giant Whitbread today said its coffee business Costa continued to thrive after a 42 per cent jump in the division’s half-year profits.
As well as the opening of new stores, the chain has benefited from the success of new drinks such as its extended iced coffee range and the roll-out of coffee machines at motorway service stations.
Underlying profits at Costa hit £27.8m in the six months to September 1 after it opened its 2,000th store, including its 100th in China.
The strong performance of Costa and a 5 per cent like-for-like sales increase at budget hotel chain Premier Inn helped Whitbread’s underlying pre-tax profits rise 15 per cent to £174.9m.