Strong Costa Sales Boost Whitbread Profits
Whitbread, the UK's largest hospitality company, has posted half-year profits of £254.9 million (€347.5m), a 5.4 per cent increase on the same period last year.
Profits were boosted due to strong sales in its coffee chain, Costa Coffee, helped increase total sales by 11 per cent to £1.44 billion. Costa recorded an underlying profit of £67 million.
Whitbread also owns Premier Inn, the UK's largest hotel chain, which recorded an increase in sales of 12.6 per cent. Other brands under the Whitbread umbrella include Beefeater Grill, Brewers Fayre, Table Table and Taybarns.
Outgoing chief executive Andy Harrison said that the Costa and Premier Inn brands "have delivered strong organic growth and continue to win market share."
The group announced its "excellent performance" was due to an increased demand in affordable hotels as well as an increase popularity in takeaway. There are now almost 3,000 Costa Coffee chains worldwide.