Whitbread reports steady growth for Premier Inn

23rd of October, 2018 | Posted in Hotel News Email Article | Print Article

Premier Inn owner Whitbread has reported steady first-half results.

The group posted a 2.6 per cent rise in revenue to £1.08 billion for the six months to 30 August, with statutory profit before tax rising by 0.2 per cent to £257 million. Underlying profit before tax rose 2.5 per cent to £270m. The group declared an interim shareholder dividend of 32.7p, an increase of 4 per cent on a year earlier. Costa, which Whitbread is selling to soft drinks giant Coca-Cola for £3.9 billion, saw profit grow 3.5 per cent to £47m in the half-year period.

Premier Inn reported total UK accommodation sales growth of 4.8 per cent, but like-for-like revenues rose just 0.2 per cent.

The UK arm has more than 74,000 rooms, with a further 13,000 rooms in the pipeline and international growth also on the agenda.

The latest figures round off a frenzied few months for Whitbread, which earlier this year said it would list Costa as a separate entity, following pressure from activist investor Elliott.

But in August the company announced the sale of Costa to Coca-Cola.

Whitbread acquired Costa in 1995 for £19m from founders Sergio and Bruno Costa when it had just 39 outlets. It now has more than 2,400 and is also embarking on overseas expansion.

The following two tabs change content below.
Hotel Magazine Scotland News Team

Hotel Magazine Scotland News Team

Hotel Scotland is a new publication (2017) from the publishers of DRAM - Scotland's leading on-trade magazine. Hotel Scotland is a newsy magazine which covers all aspects of the industry in Scotland. From who's who, to industry issues and refurbishments.
Hotel Magazine Scotland News Team

Latest posts by Hotel Magazine Scotland News Team (see all)

Recent News

    One Devonshire Gardens

    One Devonshire Gardens by Hotel du Vin in Glasgow has seen its bedrooms and restaurant areas transformed and two new luxury townhouse…

    Gleneagles outpost for Edinburgh 

    Press reports that Ennismore is planning a new Gleneagles Hotel in Edinburgh are short of the mark, instead, Communications Director John Diviney…

    DoubleTree by Hilton Glasgow Spa and Golf Resort

    The former Westerwood Hotel & Golf Resort in Cumbernauld, home of Scotland’s only Seve Ballesteros-designed golf course, is now part of a…

    Interview with Robert and Vivien Kyle

    Robert and Vivien Kyle are the husband and wife team behind the Ayrshire-based RAD Hotel Group, which employs 500 people over six…

    HERE’S WHAT YOU NEED TO KNOW ABOUT PAID REVIEW FRAUD

    A landmark ruling over fake TripAdvisor reviews in Italy, known as paid review fraud, has resulted in the world’s first prosecution and…