Whitbread : Healthy FY results; Neutral rating reiterated
>Full year results ahead of expectations, £ 300m of share buybacks - Whitbread just released healthy 2022-23 full year results (to end-February). Group revenues were £ 2,625m, ahead of expectations (vs ODDO BHFe £ 2,491m and Visible Alpha consensus £ 2,544m), which represents an increase of 54% y-o-y and 27% vs pre-crisis levels. This is a very solid outperformance, making Whitbread one of the most advanced hotel companies in the recovery. Group EBIT, at £ 544m, more ...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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