Costa Coffee owner Whitbread posts higher profit
LONDON – Britain’s Whitbread Plc said its first-half profit jumped 13.8 percent as new openings and growing demand at both its Premier Inn hotels and the Costa Coffee chain helped send sales up strongly.
Whitbread, Britain’s biggest hotel and coffee shop operator, said on Tuesday underlying pretax profit rose to 291.3 million pounds in the six months to Aug. 27, from 256 million pounds a year earlier.
Revenue rose 11.3 percent to 1.43 billion pounds, reflecting sales growth of 12.6 percent and 16.2 percent at Premier Inn and Costa Coffee respectively. -Reuters