News article

Half-year sales dip at Whitbread

Half-year sales dip at Whitbread
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Hotel operator Whitbread has seen its half-year sales fall due to a drop in trade at its Premier Inn chain.

The company posted a 2.6 per cent in like-for-like sales for the 24 weeks to August 13th, but predicted that it will still meet its targets for the full-year, news that may interest those trading Whitbread shares on the stock market.

Like-for-like sales at Premier In were 7.7 per cent lower, however the company's pub restaurants saw an increase of 2.1 per cent and its Costa Coffee branches posted rises of 2.7 per cent.

Chief executive officer Alan Parker said that the company is "delivering on our priorities to outperform our competition, to achieve cash flow neutrality and to reduce operating costs".

He added that the performance of the group over the six months has been "consistent".

Shares in Whitbread were down in afternoon trading following the announcement, dropping 183p to 1,209p at 15:21 BST.ADNFCR-1681-ID-19349106-ADNFCR