Whitbread reports 24% rise in profits

Whitbread-MW.gifWhitbread, the leisure operator, has reported a 24% rise in first half pre-tax profits due to a boost in sales at its budget hotel chain, Premier Inn. An 18% increase in sales over the six months to August is attributed to customers seeking value for money deals.

Whitbread, which owns 532 Premier Inn hotels, reported an increase in pre-tax profits from £99.4m to £123.3m over the period. Premier Inns saw sales rise to £331m.

The operator also reported an increase across its Costa Coffee chain and pub-restaurant division. Costa reported a 26% increase in sales up to £123.2m, which is attributed to the addition of 156 outlets over the past year.

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