Interim Management Statement

RNS Number : 6824J

Whitbread PLC

08 December 2008

 



Monday 8 December 2008

WHITBREAD INTERIM MANAGEMENT STATEMENT

GROUP SALES INCREASE BY 13.4%

Whitbread PLC, the hotel and restaurant group, today reports a resilient performance for the 39 weeks to 27 November 2008.

Sales for the 39 weeks to 27 November 2008

	% change vs. prior year
	Like for like sales	Total sales
Premier Inn	8.5%	16.4%
Restaurants	5.9%²	5.6%
Whitbread Hotels and Restaurants	7.4%	11.5%
Costa	2.6%	22.6%
Total	6.7%	13.4%
26 weeks ended 28th August 2008	7.2%¹	14.6%

Alan Parker, Chief Executive Officer of Whitbread PLC comments:

Whitbread has strong brands positioned in attractive, value for money sectors. Our trading has been robust, although we have seen some softening of growth in November. Total sales across the Group have increased by 13.4% with like for like sales up 6.7%. 

Whitbread Hotels and Restaurants have continued to outperform the market with total sales up 11.5% and like for like sales of 7.4%. In Premier Inn revpar is up 5.0% with like for like sales up 8.5%. In particular, the Business Account continues to attract new customers, with new users up 16% and total sales via this channel up 33%. We remain on track to open at least 4,000 rooms in 2008/09.

Our restaurant brands have also demonstrated a particularly strong performance driven by value for money offers with an increase in covers, up 9.8% and like for like sales of 5.9%². We continue to improve the condition of our restaurant estate which is now in a better shape than for many years.

Total sales achieved in Costa during the period are up 22.6%. Like for like sales are up 2.6%. We have expanded Costa substantially and the total number of outlets now stands at 1,239, across 26 markets.

We have been reviewing our future development plans as the macro economic situation has become increasingly challenging. We believe that while this environment remains we should take a more prudent approach to organic expansion. Although we remain committed to growing the business, we have decided to limit our capital expenditure next year to c£200m compared to c£300m in 2008/09. We will continue to invest in our existing estate and selected new high returning projects as well as maintaining a land bank for future development.

We are well positioned for the future and, in the more challenging environment, we are taking appropriate action as required. We continue to do what we do best, operating great value for money brands for our customers.

End

¹ Restated like for like sales following the asset swap with Mitchells & Butlers plc

² 3.6% excluding closures periods

Whitbread will announce its year-end results on 28 April 2009.

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 0808 238 0673 and enter the passcode 76041840.

A recording of the conference call will be available until 14th December 2008. To listen, dial 0800 953 1533 and enter the passcode 76041840#.  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	[phone]
Press Contacts
Tabitha Aldrich-Smith, Whitbread PLC	[phone]
Andrew Grant, Tulchan	[phone]
David Allchurch, Tulchan	[phone]

For photographs please visit the image library on www.whitbreadimages.co.uk

Notes to Editors

Whitbread PLC is the UK's largest hotel and restaurant company operating market-leading businesses in the budget hotels and restaurant sectors.  Its brands include Premier Inn, Beefeater, Table Table, Brewers Fayre, Taybarns and Costa Coffee. 

Whitbread PLC employs over 33,000 people and serves 8.5 million customers every month in its 1,500 outlets across the UK.

In the first half of the financial year ended 28th August 2008, Whitbread PLC reported a 12.6% increase in Group Revenue to £682.2 million and 24% increase in Pre-tax Profit to £123.3 million. 

Whitbread PLC is a FTSE 100 company, listed on the London Stock Exchange. It is also a member of the FTSE4Good Index.

 

END

 

 

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