Whitbread ramps up third-quarter sales

10th Dec 2013 07:11

- Double-digit quarterly sales growth - Strong performances from Premier Inn and Costa- On track for full-year targetsWhitbread, the owner of the Premier Inn, Beefeater and Costa chains, reported double-digit sales growth in the last quarter and said it is on track to deliver full-year results in line with expectations.Total like-for-like sales (LFL) rose 4.3% for the 13 weeks to November 28th, while total sales for the period increased 13.8% after strong performances from Premier Inn and Costa.Chief Executive Andy Harrison said: "Whitbread has delivered another strong quarter, driven by the strength of Premier Inn and Costa and an improved performance from Restaurants. This keeps us on track to deliver full year results in line with expectations."For the year-to-date, Whitbread grew total sales by 13%, as it continued to expand its Premier Inn and Costa networks. Total sales at Premier Inn's grew 12.9%, with the opening this year of 22 new hotels with 2,718 new rooms, including two new international hotels. Costa's total sales jumped 20.8% as it opened 246 net new stores worldwide, including 133 in the UK and 54 in China, bringing its total number of stores to 2,773.Whitbread said its restaurant market continued to be challenging, particularly outside of London, however LFL sales still grew 1.8% in the quarter."Our network expansion, as we deliver our growth milestones, combined with a strong focus on returns should continue to generate substantial shareholder value," said Harrison.The group said its financial position was unchanged from its last update. CJ