Whitbread outperforms its markets and grows profit by 6.6%

29th April 2010, 10:06am

Whitbread, the group behind Beefeater, Costa Coffee and Premier Inn, has announced an increase in pre-tax profits up from £224m to £239m for the year to March.

Debt is down by £110m to £513m as the group said it continued to "outperform".

Results at coffee chain Costa were described as "outstanding" as its popularity goes from strength to strength. Operating profits for the year are up by a staggering 60%.

Anthony Habgood, chairman of Whitbread said: "Whitbread has come through a difficult economic period very creditably. It is trading well and has opportunities for growth, both in the UK and internationally."

Alan Parker, who will later this year step down as chief executive added: "Whitbread has performed strongly in the most challenging hotel and restaurant trading conditions for a generation.

"Underlying profits have been increased by virtue of outperforming our markets and improving operating efficiency. We have achieved a significant reduction in net debt while, at the same time, increasing the number of new sites acquired for our future development."

Related Articles:

• 10 Sep 2010 - Whitbread and Thirdforce celebrate 1000th Skills for Life learner
• 07 Sep 2010 - Hotel and restaurant group Whitbread sees sales increase by 14%

Click here to submit a comment!

Have your say!

To comment on this article, simply enter your name and email and send us your views. Please note that your comment will appear publicly below this article once it has been processed. For enquiries please email info@eatoutmagazine.co.uk.