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Whitbread H1 profit rises, dividend lifted

Staff Writer | October 25, 2016
Whitbread said its first-half profit before tax rose 3.4 percent to 263.6 million pounds from 254.9 million pounds in the same period last year. Earnings per share rose to 111.06 pence from 107.98 pence a year ago.
Whitbread   Profit before tax rose 3.4 percent
Exceptional items and non-underlying adjustments, including tax related adjustments, amounted to a charge of 41.3 million pounds in the latest period, compared to a charge of 33.5 million last year.

Underlying profit before tax for the first half was 307.0 million pounds, compared to 291.3 million pounds last year. Underlying earnings per share improved to 133.44 pence from 126.12 pence a year ago.

Total revenue for the period increased 8.1 percent to 1.55 billion pounds from 1.44 billion pounds in the prior year.

The company announced an interim dividend of 29.90 pence, an increase of 4.9 percent from the dividend of 28.50 pence paid in the previous year.

Looking ahead, the company said it will be smoothing the phasing of its openings this year, and plans to open 3,700 new UK Premier Inn rooms as well as 230 to 250 new coffee shops worldwide.