Whitbread : Au-delà des chiffres, plusieurs enseignements à tirer de la publication qui confortent notre opinion positive sur le titre
>Un S1 quasi en ligne avec les attentes - La performance opérationnelle au S1 ressort quasi en ligne avec les attentes, étant donné la quasi-absence de revenu sur 2/3 du semestre. La profitabilité est évidemment largement impactée mais les efforts d’optimisation de coûts ont été plutôt salutaires. Mais au-delà de ces considérations, nous voyons trois enseignements principaux à tirer de cette publication. 1er enseignement : la demande hôtelière est toujour...Whitbread is a hospitality company. Co. serves its customers in the U.K. and beyond through its two businesses: Premier Inn and Restaurants; and Costa. Premier Inn is a hotel business, with over 760 hotels and more than 68,000 rooms as of Mar 2 2017. Co.'s hotel are located alongside its own restaurant brands. Co. also have hotels in the Middle East, and Germany, with more hotels in the pipeline. Costa is the coffee shop, with over 2,200 coffee shops in the U.K., over 1,300 stores in 29 international markets and over 6,800 Costa Express self-serve units as of Mar 2 2017.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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