Whitbread has reported profit growth of £328m on the back of a 7.4% increase in revenue in the first half of 2017. It also announced that it had opened more than 2,000 Premier Inn rooms during the period.
The Costa and Premier Inn owner said in its interim results for the six months to 31 August that it had experienced a 6.7% increase in revenue compared with the first six months of last year.
Premier Inn’s underlying operating profit grew by £295m while Costa’s profit remained constant at £65m. Across the group, Whitbread has delivered £60m of efficiencies over the past two years.
Whitbread said it was accelerating its German Premier Inn business, with one hotel already opened and nine in the pipeline.
Chief executive Alison Brittain said: “I am pleased with the progress we have made in executing the plan we set out in November last year, with earnings per share up 7.4% in the half and return on capital of 15.4%. Our plan is based on growing in our core UK markets; focusing on structural growth opportunities for Premier Inn in Germany, Costa in China and Costa Express; and strengthening our capabilities and efficiency to deliver these attractive opportunities.”
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