Whitbread : Very decent Q3 trading update, robust outlook despite current inflation
>Very decent Q3 figures - Whitbread issued a Q3 trading update this morning (13 weeks to 1 December), showing a very good performance, broadly in line with expectations. Hotel revenues in the UK were up 24% y-o-y (21% organic) and up 37% vs 2019 levels (vs +25% in H1). At group level (including F&B), revenues (reported) were up 23 y-o-y (18% organic), with the recovery in the F&B segment much less dynamic than that in hotels. These figures again confirm the outperform...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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