26th Apr 2016 06:16
LONDON (Alliance News) - Whitbread PLC on Tuesday reported growth in profit in its recently-ended financial year driven by sales growth at both the Premier Inn and Costa brands, and said it is confident in making further progress in the new year.
The hotel and coffee shop owner said its pretax profit in the year ended March 3 grew to GBP487.7 million from GBP463.8 million the year before, as revenue rose to GBP2.92 billion from GBP2.61 billion.
By division, total sales at Premier Inn grew by 13% with like-for-like sales up by 4.2%. At Costa, total sales were up by 16%, with system sales increasing by 15% and UK like-for-likes up by 2.9%.
Whitbread will pay a total dividend of 90.35 pence for the year, a 10% increase on the 82.15p paid the year before.
"Whilst it is only six weeks into our new financial year, we remain confident of making good progress this year," Chief Executive Alison Brittain said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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