Whitbread: third-quarter report fails to completely reassure
(CercleFinance.com) - Britain's Whitbread expects to deliver 2018/2019 results that are in line with expectations, after seeing like-for-like sales fall by 0.
6% in the UK in its third quarter ended 29 November, the company said on Thursday.
Whitbread said its hotel business Premier Inn had a good quarter, with total accommodation sales growth of 3.5%, driven by a significant rise in new capacity over the last year.
Now that the sale of the Costa coffee chain to Coca-Cola has been completed for 3.9 billion pounds, today Whitbread is starting a 500 million pound share buyback program.
However, analysts at Parisian broker Oddo highlight "weak trends" in the third quarter and a "cautious message" for 2019/2020.
Indeed, the company said it remains cautious on the UK environment next year, given uncertainty and higher inflation.
Whitbread shares are currently down 1.8% in London after this report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
6% in the UK in its third quarter ended 29 November, the company said on Thursday.
Whitbread said its hotel business Premier Inn had a good quarter, with total accommodation sales growth of 3.5%, driven by a significant rise in new capacity over the last year.
Now that the sale of the Costa coffee chain to Coca-Cola has been completed for 3.9 billion pounds, today Whitbread is starting a 500 million pound share buyback program.
However, analysts at Parisian broker Oddo highlight "weak trends" in the third quarter and a "cautious message" for 2019/2020.
Indeed, the company said it remains cautious on the UK environment next year, given uncertainty and higher inflation.
Whitbread shares are currently down 1.8% in London after this report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.