1st Mar 2006 07:01
Whitbread PLC01 March 2006 1st March 2006 Whitbread PLC Trading Statement For the first 50 weeks of its financial year to 16 February 2006 total sales forcontinuing Whitbread have grown by 7.4%. Underlying total sales, excluding thePremier Lodge acquisition have grown by 3.2% and like for like sales are down0.7%. Sales for 50 weeks to 16 February 2006 % change vs prior year Like for like sales Total salesPremier Travel Inn 6.9 28.1Pub Restaurants (2.0) 1.2High Street Restaurants (3.7) 2.7David Lloyd Leisure (0.6) 2.7Continuing Whitbread (0.7) 7.4 Alan Parker, Chief Executive, Whitbread PLC, commented: Since the last trading update the business has performed as expected andalthough the trading environment remains competitive we anticipate the outturnfor the year will be in line with our expectations. Premier Travel Inn continues to trade well and as part of our ongoing expansionplans I am pleased to announce that this week we have reached the 30,000 roommilestone with the opening of Hammersmith Premier Travel Inn in London. Previously trading as The Vencourt, a Best Western hotel, Whitbread took overthe lease in October last year. We have subsequently refurbished the property tobring it up to Premier Travel Inn brand standards. We see significant growthpotential through conversion opportunities such as this, and coupled with anaggressive organic pipeline we have set ourselves a new goal of 45,000 rooms inthe UK by the end of 2010. Pub Restaurants performance continues to disappoint although we are encouragedby consistent year on year covers growth on the back of the new pricing strategyin Beefeater. A new menu will be rolled out over the next two months across theBrewers Fayre estate offering better value meal deals. The new management team at David Lloyd Leisure is making good progress. Newmember sales in UK like for like clubs for December and January together wereover 20% higher than the previous year. Total membership is at an all time highof 364,000 members, retention is also showing improvement year on year and newclubs continue to do well. Costa has performed strongly with total sales up by 12.8% year to date and likefor like sales in the fourth quarter up 4.8%. We have opened over 140 new storesduring the year including 50 internationally. TGI Friday's and Pizza Hut continue to find conditions on the high streetdifficult. In December the sale of our Britvic stake was completed realising £114 millionfor the Group which combined with special dividends received earlier in theyear, results in an exceptional profit on disposal of some £140 million. Goodprogress continues to be made with the disposal of the Marriott hotel assets. On 24th February, an EGM of the Whitbread Hotel Company Limited debentureholders approved the early redemption of the £10m 11.75% 2010 stock, the £25m9.875% 2015 stock and the £80m 10.75% 2019 stock. This early redemption willresult in a one off exceptional charge of £8 million in this year and in futurewill have a small positive impact on interest. Conference call for analysts and investorsAlan Parker and Christopher Rogers will be available for a conference call at 8.30am today. To participate, dial +44 (0) 20 7138 0816 A recording of the conference call will be available for seven days. To listen,dial +44 (0) 20 7806 1970 and enter the passcode 8197453#. This service will beactive approximately one hour after the conference call has finished. For more information please contact: Investor Relations:Christopher Rogers, Whitbread PLC +44 (0) 20 7806 5400 Press Contacts:Anna Glover, Whitbread PLC +44 (0) 1582 844 439Andrew Grant, Tulchan +44 (0) 20 7353 4200 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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