10th Sep 2013 06:44
DUNSTABLE (Alliance News) - Whitbread Plc (WTB.L, WTBCF.PK), a UK-based hotel and restaurant group, reported Tuesday a 10.8 percent increase in total sales for the 11 weeks ended August 15. On a like-for-like basis, sales grew 2.1 percent.
In its trading performance statement, the company said that Premier Inn sales rose 11.5 percent and like-for-like sales grew 3 percent. Sales from restaurants rose 2.5 percent, while like-for-like sales edged down 0.2 percent as it did not benefit from the stronger London economy.
Coffee shop Costa also generated higher sales in the period.
Andy Harrison, Chief Executive, said, "The strong UK like for like sales growth of 5.7 percent was biased towards the first quarter due to weather comparatives. . We are on track with our annual plan and our ambitious five year growth milestones. Combined with our emphasis on returns, this growth should continue to create substantial shareholder value."
Copyright RTT News/dpa-AFX
Related Shares:
Whitbread