Whitbread : Healthy Q1, broadly in line with estimates
>Outstanding level of business in Q1 - Whitbread just released its Q1 2023-24 trading update (13 weeks to 1 June). The figures provided by the management are very good since reported revenues increased y-o-y (at +18% for accommodation in the UK, driven by an astonishing outperformance in London at +33%) and +10% for F&B in the UK (benefitting from commercial initiatives introduced in FY 2022-23 while the value end of the pub restaurant market remains challenging), vs...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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