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Whitbread improves FY pretax profit, revenue

25 April 2017 07:23

Whitbread has posted an improved FY pretax profit and revenue in what it described as 12 months of strong growth and continued investment.

FY pretax profit of £515.4m, which is up from the £487.7m recorded a year earlier. Revenue was £3.1bn, from £2.9bn. FY dividend was 95.8p a share, up from 90.35p.

CEO Alison Brittain said Whitbread had enjoyed another year of strong growth and continued investment.

"In 2016/17 we made good progress in delivering on our three strategic priorities: to grow and innovate in our core UK businesses; to focus on our strengths to grow internationally; and to build the capability and infrastructure to support long-term growth," she said.

The Premier Inn and Costa operator said in the year ahead it would continue to focus on organic growth and investing in its customer proposition.

"This, together with our efficiency programme and disciplined capital management gives us confidence in delivering another year of good progress, in line with overall expectations," said Brittain.

"Whilst we are only seven weeks into our new financial year Premier Inn has had a good start to the year and Costa has also seen positive like for like sales growth, although we remain cautious and expect a tougher consumer environment than last year."

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