Whitbread : H1 results reflecting challenging momentum – Reduce maintained
>Weak H1 results overall - Whitbread’s H1 results (at end-August) were weak overall, but they are slightly ahead of expectations. The group reported H1 revenues of £ 1,078m, stable vs the same period of 2018 (vs -1.1% in Q1 compared with historic levels of around 10%). The group's organic growth came to -3.6% for Premier Inn (-2.7% in Q2 vs -4.6% in Q1) and -1.2% for F&B (-0.3% in Q3 vs -2.1% in Q1). The group's RevPAR showed a sharp contraction of 5% like-for-like (v...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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