Whitbread PLC
15 December 2005
15 December 2005
Whitbread PLC Third Quarter Trading Statement
For the first 39 weeks of its financial year (to 1 December 2005) total sales
for continuing Whitbread have grown by 8.0%. Underlying total sales, excluding
the Premier Lodge acquisition, have grown by 3.0% and like for like sales are
down 0.5%.
Sales for 39 weeks to 1 December 2005
% change vs prior year
Like-for-like sales Total sales
Premier Travel Inn 7.3 33.7
Pub restaurants (2.1) 1.4
High street restaurants (3.4) 1.5
David Lloyd Leisure (0.4) 2.5
Continuing Whitbread (0.5) 8.0
Alan Parker, Chief Executive, Whitbread PLC, commented:
'Premier Travel Inn continues to perform strongly. Year to date occupancy
levels now stand at 81.9% having recovered well following a weaker July and
August. We expect to reach the next milestone of 30,000 rooms around the year
end.
In Pub Restaurants trading remains disappointing and, whilst early customer
reaction to our menu and pricing initiatives gives us encouragement, reversing
the trends in volume decline will take time.
In David Lloyd Leisure the new management team has developed detailed plans for
improving operational performance and for driving future growth. These plans
are now being implemented. The clubs we have opened this year are performing
well.
Costa has delivered excellent sales growth for the third consecutive quarter
this year and recently opened its 400th store in the UK. TGI Friday's and Pizza
Hut continue to find trading conditions difficult on the high street.
With the sale of our Britvic stake, our asset restructuring programme remains on
track, providing funds to support the ongoing £400 million capital return
programme. Good progress continues to be made with the disposal of the
Marriott hotel assets. In the third quarter we have re-financed the Group,
replacing £550 million of bridging loans with a new £700 million facility.
Although we expect the remainder of the year to be challenging, the Group as a
whole continues to perform in line with our expectations and our priorities
remain unchanged: improved operational performance, tight cost control and
disciplined growth.'
Conference call for analysts and investors
Alan Parker and Christopher Rogers will be available for a conference call at
7.45am today. To participate, dial +44 (0) 20 7365 1855
A recording of the conference call will be available for seven days. To listen,
dial +44 (0) 20 7784 1024 and enter the passcode 6855948#. This service will be
active approximately one hour after the conference call has finished.
For more information please contact:
Investor Relations:
Christopher Rogers, Whitbread PLC +44 (0) 20 7806 5406
Press Contacts:
Anna Glover, Whitbread PLC +44 (0) 1582 844 439
Andrew Grant, Tulchan +44 (0) 20 7353 4200
This information is provided by RNS
The company news service from the London Stock Exchange
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