31st Aug 2006 07:02
Whitbread PLC31 August 2006 31st August 06 Whitbread PLC Trading Statement Today, Whitbread PLC announces that total sales for Continuing Whitbread* forthe 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 15.2Pub Restaurants (retained estate) (1.3) 0.9High Street Restaurants 0.7 12.6David 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 forlike sales growing by 6.9%. The integration of the seven Holiday Inn propertiesacquired in March is proceeding to plan and in total 1,293 rooms have been addedin the first 24 weeks. In July Whitbread announced the successful sale of 239 stand-alone pubrestaurants sites to Mitchells & Butlers for £497m. Our focus is now on jointsites comprising a Premier Travel Inn and a pub restaurant. In the first 24weeks one new joint site has been opened and a further four will be opened inthe second half of the year. Over the 24 week period the retained Pub Restaurant estate has seen like forlike sales decline by 1.3%. The new management team are developing their plansto grow sales, more details of which will be given at the Interim Results inOctober. Following the disposal of 239 sites, overhead is being reducedproportionally to reflect the smaller estate with a one-off associatedexceptional cost of c.£12m. Membership retention at David Lloyd Leisure continues to improve and hasunderpinned the like for like sales growth of 2.0%. Total membership now standsat 374,136 with membership of UK like for like clubs at 311,857. One new club atAberdeen 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 (71net of closures) including 29 equity and 19 franchise stores in the UK and 29overseas 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 firstquarter continues. The sale of the stand-alone Pub Restaurants and the announceddisposal of our share in Pizza Hut UK are further steps to reshape the Group andfocus on our higher growth businesses. "We are intent on continuing to improve operating performance and delivering onour growth plans for Premier Travel Inn and Costa; driving improved salesperformance in our retained Pub Restaurant estate and maintaining the turnaroundof David Lloyd Leisure. An update on all these activities will be given with ourhalf year results on 24th October along with a progress update on the TGIFriday's review and plans for the proceeds received from the sale of PubRestaurants and Pizza Hut UK." -ends- * Sales of Continuing Whitbread comprise Premier Travel Inn, the retained PubRestaurant estate, David Lloyd Leisure, Costa and TGI Friday's but exclude the239 disposed Pub Restaurants sites, the Pizza Hut joint venture and any supplychain sales to third parties. Conference call for analysts and investorsAlan 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 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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