Whitbread PLC
31 August 2006
31st August 06
Whitbread PLC Trading Statement
Today, Whitbread PLC announces that total sales for Continuing Whitbread* for
the first 24 weeks of its financial year (to 17 August 2006) have grown by 8.4%
and like for like sales have grown by 2.3%.
Sales for 24 weeks to 17 August 2006
% change vs prior year
Like-for-Like Total
Premier Travel Inn 6.9 15.2
Pub Restaurants (retained estate) (1.3) 0.9
High Street Restaurants 0.7 12.6
David Lloyd Leisure 2.0 6.0
_____________________________
Continuing Whitbread* at week 24 2.3 8.4
Continuing Whitbread* at week 13 2.5 8.3
Premier Travel Inn has performed strongly with total sales up 15.2% and like for
like sales growing by 6.9%. The integration of the seven Holiday Inn properties
acquired in March is proceeding to plan and in total 1,293 rooms have been added
in the first 24 weeks.
In July Whitbread announced the successful sale of 239 stand-alone pub
restaurants sites to Mitchells & Butlers for £497m. Our focus is now on joint
sites comprising a Premier Travel Inn and a pub restaurant. In the first 24
weeks one new joint site has been opened and a further four will be opened in
the second half of the year.
Over the 24 week period the retained Pub Restaurant estate has seen like for
like sales decline by 1.3%. The new management team are developing their plans
to grow sales, more details of which will be given at the Interim Results in
October. Following the disposal of 239 sites, overhead is being reduced
proportionally to reflect the smaller estate with a one-off associated
exceptional cost of c.£12m.
Membership retention at David Lloyd Leisure continues to improve and has
underpinned the like for like sales growth of 2.0%. Total membership now stands
at 374,136 with membership of UK like for like clubs at 311,857. One new club at
Aberdeen has successfully opened during the period.
Costa continues to grow rapidly, with total sales up 22.2% on the previous year.
Like for like sales grew by 5.7%. In the period 77 new stores were opened (71
net of closures) including 29 equity and 19 franchise stores in the UK and 29
overseas including stores opening for the first time in Jordan & Syria.
Commenting on the performance of the Group, Alan Parker, Chief Executive,
Whitbread PLC said: 'I am pleased that the positive momentum from the first
quarter continues. The sale of the stand-alone Pub Restaurants and the announced
disposal of our share in Pizza Hut UK are further steps to reshape the Group and
focus on our higher growth businesses.
'We are intent on continuing to improve operating performance and delivering on
our growth plans for Premier Travel Inn and Costa; driving improved sales
performance in our retained Pub Restaurant estate and maintaining the turnaround
of David Lloyd Leisure. An update on all these activities will be given with our
half year results on 24th October along with a progress update on the TGI
Friday's review and plans for the proceeds received from the sale of Pub
Restaurants and Pizza Hut UK.'
-ends-
* Sales of Continuing Whitbread comprise Premier Travel Inn, the retained Pub
Restaurant estate, David Lloyd Leisure, Costa and TGI Friday's but exclude the
239 disposed Pub Restaurants sites, the Pizza Hut joint venture and any supply
chain sales to third parties.
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) 207 138 0817
A recording of the conference call will be available for seven days. To listen,
dial +44 (0) 207 806 1970 and enter the passcode 9316438#
For more information please contact:
Investor Relations:
Christopher Rogers, Group Finance Director +44 (0) 1582 396 335
Media:
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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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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