Hotel and restaurant business Whitbread plc (WTB.L) reported Wednesday that its first-half profit before tax grew 29 percent to 395 million pounds from last year’s 307 million pounds.
Basic earnings per share were 147.6 pence, up 28 percent from 115.7 pence last year.
Adjusted profit before tax was 391 million pounds, compared to 272 million pounds in the prior year. Adjusted basic earnings per share were 146.1 pence, compared to 107.0 pence a year ago.
Adjusted EBITDAR grew 23 percent to 628 million pounds from 512 million pounds last year.
Statutory revenue increased 17 percent to 1.57 billion pounds from prior year’s 1.35 billion pounds.
Further, the company announced that interim dividend per share increased 40 percent to 34.1p per share. The dividend will be paid on December 8.
Looking ahead, the company said, “Based on our strong performance to-date and an encouraging forward booked position, we remain optimistic about the full year outlook and look forward with confidence as reflected by our increased interim dividend and further planned share buy-back.”
Separately, Whitbread said it is commencing a share buy-back programme of up to 300 million pounds to reduce its capital. It is expected that the implementation of the Programme will enhance earnings per share.
Whitbread has instructed Morgan Stanley & Co. International Plc and J.P. Morgan Securities plc, together the ‘Brokers’, to execute the Programme.
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