MARKET TALK: Whitbread 1Q Very Strong - Panmure

22nd Jun 2010 09:05

0805 GMT [Dow Jones] Whitbread's (WTB.LN) 1Q update is very strong, with group like-for-like sales up 7.6% for the 13 weeks to June 3. It notes that encouragingly, Premier Inn LFL revenue per available room has increased 9.1% over the period, adding that this is the first positive quarter for 18 months. "We believe the risk to consensus forecasts clearly lies on the upside given the exceptional 1Q." It adds the stock continues to trade at a discount to its hotel peers. Reiterates buy recommendation and 1935p target. Shares +3.5% at 1530p.([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 22, 2010 04:05 ET (08:05 GMT)