This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-34578876
The article has changed 4 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| Costa boosts Whitbread's profits | Costa boosts Whitbread's profits |
| (about 2 hours later) | |
| Costa coffee sales and the hotel chain Premier Inn have boosted Whitbread's half-year pre-tax profits to £254.9m, up 5.4% on the same period last year. | Costa coffee sales and the hotel chain Premier Inn have boosted Whitbread's half-year pre-tax profits to £254.9m, up 5.4% on the same period last year. |
| Total sales rose 11% to £1.44bn, with the Costa coffee sales making an underlying operating profit of £67m. | |
| Sales at Premier Inn rose by 12.6% and the company plans to invest £130m in that business this year. | Sales at Premier Inn rose by 12.6% and the company plans to invest £130m in that business this year. |
| Whitbread expects the National Living Wage, being introduced in April 2016, to cost it about £15m-£20m a year. | Whitbread expects the National Living Wage, being introduced in April 2016, to cost it about £15m-£20m a year. |
| It says it can mitigate those costs through "a combination of economies of scale as we grow, procurement benefits and investment in training and systems to deliver increases in productivity and efficiency". | It says it can mitigate those costs through "a combination of economies of scale as we grow, procurement benefits and investment in training and systems to deliver increases in productivity and efficiency". |
| Chief executive Andy Harrison said of Costa and Premier Inn: "Our two leading brands have delivered strong organic growth and continue to win market share." | Chief executive Andy Harrison said of Costa and Premier Inn: "Our two leading brands have delivered strong organic growth and continue to win market share." |
| The group said 84% of its bookings at Premier Inn were now done online and it would continue to invest so it could "improve our customers' online experience". | The group said 84% of its bookings at Premier Inn were now done online and it would continue to invest so it could "improve our customers' online experience". |
| It said Costa delivered an "excellent performance" with sales growth of 16.2% and underlying operating profits up 28% compared to the same period last year. | |
| It said that in the UK, it opened 68 new stores during this half-year period and planned to have about 2,500 shops by 2020 in Britain. | It said that in the UK, it opened 68 new stores during this half-year period and planned to have about 2,500 shops by 2020 in Britain. |
| Whitbread has grown rapidly in recent years because of demand from cost-conscious customers looking for affordable hotels and the popularity of takeaway coffee. | Whitbread has grown rapidly in recent years because of demand from cost-conscious customers looking for affordable hotels and the popularity of takeaway coffee. |
| Growth was less impressive in its restaurants arm, which includes brands such as Beefeater, Brewers Fayre, Table Table and Taybarns, with like-for-like sales edging 0.1% higher. | Growth was less impressive in its restaurants arm, which includes brands such as Beefeater, Brewers Fayre, Table Table and Taybarns, with like-for-like sales edging 0.1% higher. |
| It is the final set of results under the leadership of Mr Harrison, who has been in charge for five years. | It is the final set of results under the leadership of Mr Harrison, who has been in charge for five years. |
| Alison Brittain will take over in December. | Alison Brittain will take over in December. |
| Whitbread's shares were up 2.84% in early morning trading | Whitbread's shares were up 2.84% in early morning trading |