Whitbread PLC
28 February 2007
28 February 2007
Whitbread PLC Trading Statement
Today, Whitbread PLC announces that total sales for Continuing Whitbread* for
the first 50 weeks of its financial year to 15 February 2007 have grown by 10.3
% and like-for-like sales have grown by 4.3%.
Sales for 50 weeks to 15 February 2007
% change vs prior year
Total Like-for-Like
Premier Travel Inn 16.5 8.1
Pub Restaurants 2.6 0.7
David Lloyd Leisure 6.0 2.7
Costa 22.1 6.7
Continuing Whitbread* at week 50 10.3 4.3
Continuing Whitbread* at week 39 10.1 3.9
Alan Parker, Chief Executive, Whitbread PLC comments:
'Trading for the Group has strengthened throughout the year, with further
increases in total and like-for-like sales growth in all our businesses. We
expect the full year outcome to be at the top end of the range of market
expectations.
Premier Travel Inn's growth rate has continued to increase, with total sales up
16.5% and like-for-like sales up 8.1%. The London market remains particularly
strong. By the financial year-end we will achieve our target for the year of
adding 2500 Premier Travel Inn rooms to the estate, which includes 19 new hotels
delivering 1700 rooms with the balance being achieved through extensions.
Pub Restaurants have improved further with a total sales increase of 2.6 % and
like-for-like sales growth turning positive at 0.7 %. We have introduced broader
menus, with a wider range of price points and reduced discounts. 19 Brewers
Fayres have now been remodelled and we expect to complete the remodelling of the
entire Beefeater estate by the end of April. We continue to see sustained
average sales uplifts of around 25% at our remodelled houses.
David Lloyd Leisure has delivered a 6.0 % increase in total sales and a 2.7 %
increase in like-for-like sales. The quality of the clubs continues to improve,
and membership numbers in like for like clubs remain stable. We have made gains
in profitability through improved productivity and tight cost control.
Costa has seen total sales up 22.1% and like-for-like sales growth increase to
6.7%. The food offer has been improved, and 185 new stores have been opened,
including 78 equity and 107 franchise stores, 64 of which were overseas.
We continue to drive rapid expansion in our Premier Travel Inn and Costa
businesses, while Pub Restaurants and David Lloyd Leisure are making good
progress. Our clear focus is to drive operating performance across the Group,
and this strong finish to the year demonstrates that our actions are delivering
results.'
Whitbread will announce its preliminary results for the 52 weeks to 1st March
2007 on 24th April 2007.
-ends-
* Sales of Continuing Whitbread comprise Premier Travel Inn, the retained Pub
Restaurant estate, David Lloyd Leisure and Costa, but exclude the 239 disposed
Pub Restaurant sites, the Pizza Hut joint Venture, TGI Fridays, Supply Chain
sales to third parties, and other sales related to Marriott.
Conference call for analysts and investors
Alan Parker and Christopher Rogers will be available for a conference call at
8.30am today (UK time). To participate, dial +44 (0)20 73651836
A recording of the conference call will be available for seven days. To listen,
dial +44 (0)20 7806 1970 and enter the passcode 3734439#
For more information please contact:
Investor Relations:
Christopher Rogers, Group Finance Director +44 (0) 1582 889 422
Media:
Miranda Acland/Celia Gordon Shute +44 (0) 207 353 4200
Tulchan Communications
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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