Jun 15, 2022
Whitbread beats forecasts but faces darkening UK economic outlook
Like-for-like accommodation sales in the UK rose 21.3 per cent in the three months to June 2 compared with the same period in 2019, before Covid-19 struck, the Premier Inn owner said. Shares in Whitbread rose nearly 4 per cent in early London trading on Wednesday, trimming the year's decline to 11 per cent. Total accommodation sales were 27.2 per cent ahead of rivals in the sector while UK food and beverage sales are approaching pre-Covid levels, the statement said. Germany, where Whitbread has been expanding in recent years, has outpaced expectations over the past two months as the country emerges from lockdown restrictions. "We are optimistic that the full-year outlook in Germany is improving," Whitbread said.
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