Member Article

Whitbread to create 12,000 jobs over five years

Whitbread expect to create 12,000 jobs over the next five years, following growth of the Costa and Premier Inn brands.

The hotel and restaurant group posted an increase in revenue of 14.2%, driven by like-for-like sales increases of 3.1% at Premier Inn and 6.8% at Costa. Underlying pre-tax profit rose by 11.4% to £356.5m.

Andy Harrison, chief executive, said: “This is another set of excellent Whitbread results, delivering double digit growth in sales, profit and dividend. Over the last five years, throughout the worst of the economic downturn, Whitbread has grown its sales by 11% per annum and profits by 12% per annum, together with 12% per annum growth in dividends. Return on capital has also increased from 11.4% to 14.0% over that period.

“In April 2011 we established ambitious milestones to grow Premier Inn UK rooms by 50% to 65,000 rooms and to double Costa’s worldwide system sales to £1.3bn.

“We are well on track to achieve these milestones and have announced new 2018 milestones to grow Premier Inn UK by 45% to around 75,000 rooms and to double Costa’s system sales to around £2bn. This exciting organic growth opportunity, together with a clear focus on returns, will continue to create substantial shareholder value.”

This was posted in Bdaily's Members' News section by Tom Keighley .