DUNSTABLE (dpa-AFX) - Whitbread plc (WTB.L) said it has delivered a resilient first half profit performance despite challenging market conditions in the UK. Shorter-term trading conditions in the UK regional market have been difficult, particularly in the business segment, whilst trading in London remained strong. Revenue was broadly flat, supported by capacity additions.
For the first-half, statutory profit before tax declined 7.1 percent to 220 million pounds. Earnings per share from continuing operations was 103.7 pence compared to 101.8 pence. Adjusted profit before tax, post-IFRS 16, declined 4.1 percent to 236 million pounds due to a weaker UK market and sector-wide inflation. Adjusted earnings per share from continuing operations was 112.4 pence compared to 106.5 pence.
First-half adjusted revenue was at 1.078 billion pounds, down 0.1 percent from previous year. Total UK accommodation sales declined 0.6 percent and like-for-like accommodation sales declined 3.6 percent, impacted by continued weak regional market conditions.
An interim dividend of 32.7 pence per share, flat with last year, was declared by the Board on 21 October 2019.
Copyright RTT News/dpa-AFX
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