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Whitbread like-for-like sales up 7%

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Date: Thursday 04 Sep 2008

LONDON (ShareCast) - Hotel and restaurant group Whitbread said like-for-like sales across the group has risen 7% in the 24 weeks to 14 August, with total sales increasing 14.2%.

Premier Inn outperformed the hotel market, said the group, with total sales rising 17.9% and like for like sales up 10.2%. The growth was driven by 7.6% more rooms sold in its expanded estate and REVPAR (revenue per room) increasing 5.8%.

The group said its pub restaurants have improved performance with total sales up 6.0% and like for like sales up 4.4%. It said it has responded to food and energy cost inflation through increased operational efficiency and lower cost options on its menus.

Costa total sales grew 23.6% with like for like sales increasing 3.7%. The estate expanded to 1,100 stores.

"Whitbread has continued to be resilient in a period of consumer uncertainty. We believe this to be as a result both of the action taken in recent years to re-shape the group and our continuing emphasis on value for money," said the group.

"Our strong balance sheet and disciplined approach to investment put us in a good position to take advantage of additional growth opportunities. We remain vigilant in these challenging economic times and are alert to whatever further action is required," it added.

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