DUNSTABLE (dpa-AFX) - Whitbread (WTB.L) reported that its first half statutory profit before tax declined to 287 million pounds from 309 million pounds, prior year. Statutory basic EPS was 123.7 pence compared to 121.0 pence. Adjusted profit before tax declined to 316 million pounds from 340 million pounds. Adjusted EBITDAR decreased by 2% to 601 million pounds. Adjusted basic EPS was 133.7 pence compared to 137.1 pence.
Statutory revenue was 1.54 billion pounds, down 2% from prior year, reflecting broadly flat UK accommodation sales and positive momentum in Germany, offset by the anticipated lower F&B revenues.
The Group said it is continuing to execute several strategic initiatives so that by fiscal 2030, the Group will: increase Group adjusted profit before tax from fiscal 2025 by at least 300 million pounds; and generate 2 billion pounds available for share buy-backs and dividends. The Group said it is on track to deliver profitability in the current year.
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