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22 October 2019

Whitbread may outperform expectations despite challenges

Premier Inn owner Whitbread has reported a fall in first-half profits amid “challenging” conditions in the UK.
 
Pre-tax profit was down 4.1% to £236m in the six months to the end of September 2019 with the company saying it was impacted by weaker demand for its hotels, particularly those outside London.
 
James Igoe, Investment Manager, said: “Whitbread delivered results broadly in line with expectations, accounting for one-off costs relating to the Costa coffee disposal earlier this year. The focus for the company, excluding Costa, remains on hotels, food and beverages which, on balance, are at the mercy of uncertain economic prospects given the Brexit backdrop.
 
“Nevertheless, the business has a strong balance sheet and may be able to outperform the dour market expectations across the sectors it operates in.”
 
Ends

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Please note, this article is for information only and does not constitute a recommendation to buy or sell shares in Whitbread.
 
 
 
Whitbread may outperform expectations despite challenges
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