DUNSTABLE (dpa-AFX) - Hotel and restaurant business Whitbread plc (WTB.L) reported Thursday that its total Group sales for the third quarter were down 2 percent year-over-year to 763 million pounds, amid the expected reduction in UK food and beverage or F&B sales as a result of Accelerating Growth Plan. This was despite positive results in Germany.
Total like-for-like sales fell 1 percent with 3 percent decline in UK, despite 20 percent jump in Germany. Accommodation LFL sales fell 1 percent, while F&B LFL sales were flat.
On a reported basis, F&B sales fell 12 percent in the quarter, while Accommodation sales grew 1 percent.
On a regional basis, UK sales fell 4 percent with flat Accommodation sales and 14 percent drop in F&B sales. However, sales in Germany climbed 19 percent with 19 percent jump in Accommodation sales and 22 percent growth in F&B sales.
Regarding the current trading, the company noted that total UK accommodation sales in the six weeks to January 9 were up 2 percent with RevPAR in line with last year. UK F&B sales continue to perform in line with our expectations and previous guidance
Total Germany accommodation sales were up 37 percent and RevPAR up 28 percent in local currency.
The company further maintained its fiscal 2025 guidance
The company said there is no change to Accelerating Growth Plan guidance and that it expects to fully reverse the FY25 profit before tax negative impact of 20 million pounds to 25 million pounds.
Dominic Paul, Whitbread Chief Executive, said, 'Our Five-Year Plan is set to deliver incremental profit of at least £300m by FY30 and release more than £2bn for shareholders through a combination of dividends and share buy-backs. We are making good progress against our strategic priorities including our Accelerating Growth Plan and cost efficiency programme, and we remain confident in our ability to deliver a step change in profits, margins and returns.'
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