Whitbread boosted by profits lift

Pubs and leisure group Whitbread today reported a 24.5% rise in profits after strong performances from its Costa and Premier Travel Inn divisions.

The company said pre-tax profits for the year to March 1 came in at £213m (€314m) – at the top end of expectations, and up from £171.1m (€251.9m) last year.

It said that it had also seen improved results at its restaurants division, while both Premier Travel Inn and Costa had shown strong growth. Plans for international expansion of the units were also progressing well.

The firm added that it was still “considering approaches” for gym business David Lloyd made earlier in the year, but said that in the meantime the turnaround at the division was underpinning value for the group. It added that no decision had been taken to sell the businesses, but that it was examining the proposals.