Edition:
United Kingdom

Whitbread PLC (WTB.L)

WTB.L on London Stock Exchange

4,599.00GBp
4:35pm BST
Change (% chg)

-71.00 (-1.52%)
Prev Close
4,670.00
Open
4,675.00
Day's High
4,685.00
Day's Low
4,584.00
Volume
636,016
Avg. Vol
617,620
52-wk High
5,162.00
52-wk Low
3,869.95

Latest Key Developments (Source: Significant Developments)

Whitbread Announces 2 Bln Stg Tender Offer In Second Phase of Capital Programme
Friday, 31 May 2019 

May 31 (Reuters) - Whitbread PLC ::WHITBREAD PLC - TENDER OFFER.WHITBREAD - PROPOSED RETURN OF UP TO £2 BILLION TO SHAREHOLDERS BY WAY OF A TENDER OFFER, AS SECOND PHASE OF POTENTIAL 3-PHASE RETURN OF CAPITAL PROGRAMME.WHITBREAD PLC - APPROXIMATELY £480 MILLION RETURNED TO SHAREHOLDERS THROUGH REPURCHASE OF ORDINARY SHARES PURSUANT TO COMPANY'S SHARE BUYBACK PROGRAMME.WHITBREAD PLC - BOARD HAS DECIDED THAT APPROPRIATE SECOND PHASE IS TO CONDUCT A TENDER OFFER TO RETURN A MAXIMUM OF £2 BILLION.WHITBREAD - IF LESS THAN £2 BILLION RETURNED THROUGH TENDER OFFER, WILL CONSIDER POSSIBLE THIRD PHASE TO RETURN REMAINING SURPLUS CASH.  Full Article

Whitbread FY Underlying Pretax Profit Increased By 1.2 Pct To 438 Mln Stg
Tuesday, 30 Apr 2019 

April 30 (Reuters) - Whitbread PLC ::PRELIMINARY RESULTS ANNOUNCEMENT.FY UNDERLYING PROFIT BEFORE TAX INCREASED BY 1.2% TO £438 MILLION.FULL YEAR DIVIDEND OF 99.65P (FY18: 101.15P).FY STATUTORY PROFIT BEFORE TAX £260M VERSUS £426M.FY UNDERLYING REVENUE £2,049M VERSUS £2,007M.TOTAL UK ACCOMMODATION SALES GROWTH OF 3.5%, REFLECTING ADDITIONAL CAPACITY IN FY.FY UK LIKE-FOR-LIKE(†) ACCOMMODATION SALES (0.6)% IMPACTED BY SOFT DEMAND, ESPECIALLY IN Q4.FURTHER WEAKENING IN MARKET DEMAND SINCE START OF FY20, PARTICULARLY IN REGIONS WHERE MOST OF PREMIER INN'S HOTELS ARE LOCATED.DURING YEAR PREMIER INN UK DELIVERED TOTAL ACCOMMODATION SALES GROWTH OF 3.5% THROUGH FURTHER CAPACITY ADDITION.HOTEL IN FRANKFURT CONTINUES TO PERFORM WELL AND HAS REACHED A MATURE LEVEL OF MARKET OCCUPANCY.PLANNING SOME OPERATIONAL DIS-SYNERGIES OF AROUND £10 MILLION FOLLOWING SALE OF COSTA FOR FY20.OUR FOCUS ON EFFICIENCY REMAINS IMPORTANT AS INDUSTRY COST INFLATION CONTINUES.GERMAN LOSSES EXPECTED TO BE APPROXIMATELY £12 MILLION FOR FY20."THERE ARE ONGOING SIGNS OF MARKET WEAKNESS ACROSS BOTH BUSINESS AND LEISURE, ESPECIALLY IN UK REGIONS".IN Q4, WE SAW A DECLINE IN BUSINESS AND LEISURE CONFIDENCE, LEADING TO WEAKER DOMESTIC HOTEL DEMAND.WEAKER DOMESTIC HOTEL DEMAND HAS INCREASED INTO MARCH AND APRIL PARTICULARLY IN REGIONAL BUSINESS MARKET.UK ENVIRONMENT REMAINS SUBDUED AND SUSTAINED INFLATION CONTINUES TO BE A SIGNIFICANT CHALLENGE.  Full Article

Whitbread Announces Plans For Further 220 Mln Stg In Savings
Wednesday, 13 Feb 2019 

Feb 13 (Reuters) - Whitbread Plc ::EFFICIENCY PROGRAMME EXTENDED TO A FURTHER 220 MILLION STG OPEX & CAPEX SAVINGS OVER THREE YEARS.OPTIMISED CAPITAL STRUCTURE ENABLES AT LEAST 2.5 BILLION STG TO BE RETURNED TO SHAREHOLDERS.FOCUSED ON DELIVERY OF STRUCTURAL GROWTH OPPORTUNITIES AVAILABLE TO PREMIER INN IN UK AND INTERNATIONALLY.DOUBLING LONG-TERM NETWORK POTENTIAL TO MORE THAN 170,000 ROOMS IN THE UK & INTERNATIONALLY.SEEKS TO COMPLETE 2 BILLION STG TENDER OFFER FOLLOWING VOTE FROM SHAREHOLDERS TO BE CONDUCTED ALONGSIDE AGM ON 19 JUNE 2019.GERMANY IS A LARGER AND SIGNIFICANTLY MORE FRAGMENTED TRAVEL MARKET THAN THE UK, WITH OVER 900,000 ROOMS.FOR PREMIER INN, FREEHOLD PROPERTY ESTATE'S CURRENT VALUATION IS 4.9 BLN STG - 5.8 BLN STG.TARGETED SAVINGS INCLUDE 120 MILLION STG OF OPERATING COST SAVINGS AND 100 MILLION STG OF CAPITAL COST SAVINGS OVER THE NEXT THREE YEARS.  Full Article

Whitbread Says Proposing To Reorganise Premier Inn Hotels Management Structure
Monday, 1 Oct 2018 

Oct 1 (Reuters) - Whitbread PLC ::SAYS PROPOSING TO REORGANISE PREMIER INN HOTELS MANAGEMENT STRUCTURE.SAYS PROPOSALS WILL AFFECT ABOUT 790 OPERATIONS MANAGERS AT PREMIER INN.SAYS CREATING NEW ROLES TO REPLACE OPERATIONS MANAGERS AT PREMIER INN, WILL SEEK TO MATCH EXISTING EMPLOYEES WITH NEW POSITIONS.WHITBREAD SAYS WILL SEEK TO MATCH EXISTING EMPLOYEES WITH NEW POSITIONS AS WELL AS EXISTING VACANCIES.WHITBREAD DECLINES TO COMMENT WHEN ASKED IF JOBS WILL BE CUT OVERALL.  Full Article

Whitbread To Sell Costa To Coca-Cola For 3.9 Bln Stg
Friday, 31 Aug 2018 

Aug 31 (Reuters) - Whitbread PLC ::PROPOSED SALE OF COSTA TO THE COCA-COLA COMPANY.SALE OF COSTA FOR AN ENTERPRISE VALUE OF £3.9 BILLION.SALE OF COSTA FOR AN ENTERPRISE VALUE OF £3.9 BILLION, REPRESENTING A MULTIPLE OF 16.4X COSTA FY18 EBITDA.RECOGNISES STRATEGIC VALUE OF COSTA'S BRAND STRENGTH, MULTI-CHANNEL PRESENCE AND INTERNATIONAL GROWTH POTENTIAL.TRANSACTION UNANIMOUSLY AGREED BY WHITBREAD BOARD TO BE IN BEST INTERESTS OF SHAREHOLDERS.NET CASH PROCEEDS EXPECTED TO BE APPROXIMATELY £3.8 BILLION AT COMPLETION, AFTER ADJUSTING FOR ESTIMATED TRANSACTION COSTS AND SEPARATION COSTS.WHITBREAD WILL ALSO REDUCE FINANCIAL INDEBTEDNESS.WHITBREAD WILL ALSO REDUCE FINANCIAL INDEBTEDNESS AND MAKE A CONTRIBUTION TO PENSION FUND.WILL BOTH PROVIDE HEADROOM FOR FURTHER EXPANSION OF PREMIER INN IN UK AND GERMANY.TRANSACTION IS CONDITIONAL UPON AGREEMENT BY WHITBREAD'S SHAREHOLDERS AND VARIOUS OTHER APPROVALS.SIGNIFICANT MAJORITY OF NET CASH PROCEEDS FROM DEAL INTENDED TO BE RETURNED TO SHAREHOLDERS.AS PART OF DEAL, DOMINIC PAUL WILL REMAIN AS COSTA MANAGING DIRECTOR AND WILL NO LONGER BE A MEMBER OF WHITBREAD EXECUTIVE COMMITTEE.EXPECTS TO REACH AGREEMENT WITH OTHER STAKEHOLDERS, SUCH AS PENSIONS TRUSTEES, IN RELATION TO EXTENT OF CONTRIBUTIONS TO PENSION DEFICIT.WHITBREAD AND COCA-COLA HAVE ALSO ENTERED INTO A TRANSITIONAL SERVICES AGREEMENT.WHITBREAD HAS AGREED TO PROVIDE VARIOUS SERVICES INCLUDING IT, PROCUREMENT AND HR SERVICES TO COCA-COLA FOR 12-24 MONTHS.  Full Article

Whitbread To Simplify Management Teams In Restaurants’ Business
Monday, 2 Jul 2018 

July 2 (Reuters) - Whitbread Plc ::PROPOSING TO SIMPLIFY MANAGEMENT TEAMS IN RESTAURANTS’ BUSINESS; PROPOSED CHANGES WOULD RESULT IN NUMBER OF MANAGERS LEAVING BUSINESS.  Full Article

Whitbread Says Chairman Richard Baker To Retire
Thursday, 4 Jan 2018 

Jan 4 (Reuters) - Whitbread Plc ::ANNOUNCES RETIREMENT OF RICHARD BAKER AS CHAIRMAN AND APPOINTMENT OF ADAM CROZIER​.‍CHAIRMAN, RICHARD BAKER, WILL BE RETIRING FROM BOARD AT NEXT FINANCIAL YEAR END, 28 FEBRUARY 2018​.  Full Article

Whitbread says H1 revenue at 1.67 bln stg vs 1.55 bln stg yr ago
Tuesday, 24 Oct 2017 

Oct 24 (Reuters) - Whitbread Plc ::INTERIM DIVIDEND 31.4 PENCEPER SHARE.H1 REVENUE AT 1.67 BILLION STG VERSUS 1.55 BILLION STG YEAR AGO.H1 ‍STRONG BALANCE SHEET WITH NET DEBT REDUCED TO £852 MILLION​.H1 ‍PREMIER INN UNDERLYING OPERATING PROFIT GROWTH TO £295 MILLION, COSTA CONSTANT AT £65 MILLION​.H1 ‍UNDERLYING PROFIT BEFORE TAX AT £328M VERSUS £307M, UP 6.7%​.H1 ‍UNDERLYING OPERATING PROFIT AT £342M VERSUS £320M, UP 7.1%​.‍FY18 OUTLOOK NO OVERALL CHANGE TO GROUP EXPECTATIONS​."‍PREMIER INN IS ON TRACK TO HAVE 85,000 ROOMS BY 2020 FROM 70,120 ROOMS AT END OF HALF"​.‍EXPECT TO MEET EXPECTATIONS FOR FULL YEAR​.‍NOW COMPLETED EXIT OF ALL NON-CORE INTERNATIONAL OPERATIONS FOR BOTH PREMIER INN AND COSTA​.WHITBREAD - ‍COSTA REMAINS ON TRACK TO DELIVER 230-250 NEW STORES AND APPROXIMATELY 1,200 NEW COSTA EXPRESS MACHINES IN FULL YEAR​.‍NEW HOTELS WITHIN UK ARE EXPECTED TO CONTRIBUTE APPROXIMATELY 5-6% TO TOTAL SALES GROWTH FOR FULL YEAR​.‍PREMIER INN IN FIRST HALF HAD REVENUE INCREASING 6.4% TO 1.052 BILLION STG​.  Full Article

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UK cross-border M&A activity slumps in early 2019

LONDON The value of cross-border company takeovers in Britain fell sharply in the first three months of 2019 as the number of acquisitions by British and foreign companies fell, official figures showed on Tuesday.