Whitbread : Healthy Q3 trading update. Recent trading is quite good. Outperform rating reiterated
>Strong Q3 trading update, group revenues up 11% y-o-y - Whitbread this morning released its Q3 trading update to end-November. Group revenues increased 11% y-o-y (vs +13% in Q2 and +19% in Q1), beating our expectations of +8%. Hotel revenues in the UK increased +11% over the quarter, slowing slightly compared to +13% in Q2. This is quite reassuring; we had included in our estimates the impact of the disruptions in the UK (storms in mid-October and early Nov...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.