Whitbread – Premier Inn Owner Puts The Dividend Back On The Table As Profits Return
Whitbread plc (LON:WTB)’s full-year revenue rose from £589m to £1.7bn, beating market expectations and 17.8% down on pre-pandemic levels. There was strong recovery across the portfolio as the group lapped the previous year which was heavily impacted by restrictions. Underlying cash profit (EBITDA) improved from a loss of £194.9m to a profit of £472.6m, 37.2% down on pre-covid levels. Q1 2022 hedge fund letters, conferences and more Cost inflation is running higher than expected, at around 8-9%. However, the group aims to offset this through cost reduction, estate growth and increased prices. T...