Friday 14 June 2024
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Whitbread to focus on hotel brands after selling Costa Coffee to Coca-Cola

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LONDON, UK – Whitbread Plc published its first set of financial results since announcing that it was selling Costa Coffee chain to Coca-Cola for £3.9 billion. UK’s largest hospitality group reported today a 2.6 percent rise in revenues year on year in the six months to the end of August to £1.8billion with statutory profits before tax rising 0.2 per cent to £257 million.

Underlying profit before tax increased in-line with sales by 2.5% to £270 million, supported by tight cost control and the benefit of the ongoing efficiency programme

Costa is now reported as a discontinued operation, statutory profit for the period increased 3.5% to £47 million

Strong cash generation with discretionary free cash flow at £283 million

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