April 29, 2008 // Franchising.com // Alan Parker, Chief Executive Whitbread PLC, said: "2007/8 was a year of excellent progress with good results across the Company. Whitbread is now a more resilient business with strong growth prospects in the UK and overseas. In anticipation of a more challenging environment, action has been taken to simplify processes and reduce costs."
"Since the start of the new financial year, two months ago, trading has been encouraging. We have researched the opportunities for disciplined growth across the Group and have established two longer-term ambitions - in the next five years to increase the size of Premier Inn by 50% to 55,000 rooms and to double Costa to 2,000 stores. Whitbread is well placed for the future."
For photographs, please visit the new corporate image library: www.whitbreadimages.co.uk
A presentation for analysts will be held at The London Stock Exchange, 10 Paternoster Square, London, EC4M 7LS. The presentation is at 9.30am and a live audio webcast of the presentation will be available on the investors' section of the website at: www.whitbread.co.uk.
Alternatively, you can listen to the presentation by dialling: +44 (0)20 7162 0125, enter the passcode: 793474 and quote The Whitbread Results Presentation. This will be available as a replay for 30 days and will be available from approximately 12:00 noon, dial: +44 (0)20 7031 4064 and enter the passcode: 793474.
(1) Continuing Whitbread
Continuing Whitbread comprises Premier Inn, the retained Pub Restaurant Estate and Costa but excludes David Lloyd Leisure, the disposed of pub restaurant sites, the Pizza Hut joint venture, TGI Friday's and any supply chain sales to third parties.
(2) Continuing operations
Continuing operations comprises Continuing Whitbread plus the disposed of pub restaurant sites during the period of Whitbread ownership and supply chain sales to third parties.