DUNSTABLE (dpa-AFX) - Hotel and restaurant business Whitbread plc (WTB.L) reported that its profit before tax for fiscal year ended 27 February 2025 decreased to 367.8 million pounds from 451.7 million pounds last year.
Adjusted profit before tax declined to 483 million pounds from last year's 561 million pounds reflecting the impact of AGP, cost inflation and lower interest income, partially offset by increased cost savings and excellent progress in Germany.
Adjusted earnings per share declined to 193.4 pence from 205.5 pence per share in the previous year.
Annual profit was 253.7 million pounds or 140.6 pence per share down from 312.1 million pounds or 159.9 pence per share in the previous year.
Annual revenue declined to 2.922 billion pounds from 2.960 billion pounds in the prior year, reflecting lower food and beverage revenues as a result of our Accelerating Growth Plan and softer UK market demand, mitigated by strong growth in Germany.
The company remains confident in achieving a minimum of 300 million pounds in incremental adjusted profit before tax by fiscal year 2030, alongside releasing over 2 billion pounds to fund share buy-backs and dividends.
The Board has recommended a final dividend per share of 60.6 pence, compared to 62.9 pence in fiscal year 2024, bringing the total dividend per share for the year to 97.0 pence, consistent with fiscal year 2024. The final dividend will be paid on 4 July 2025 to all shareholders on the register at the close of business on 23 May 2025. Whitbread said that it is commencing a share buy-back program of up to a maximum consideration of 250 million pounds.
The company noted that it has entered into a non-discretionary and irrevocable instruction with Morgan Stanley in relation to the purchase by Morgan Stanley, acting as riskless principal during the period commencing today and ending no later than 30 April 2026, of the Company's Ordinary Shares of 76 122/153 pence each for an aggregate purchase price of up to but not greater than 250 million pounds.
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