DailyMail Money Markets: Whitbread Targets £300 Million Profit Boost
DailyMail Money Markets Report on Whitbread's Ambitious Goals
Premier Inn owner Whitbread has set a target of at least £300 million more profit and over £2 billion for shareholder returns in the next five years.
Performance Overview
It comes after the hospitality group saw first-half profits slump, with adjusted pre-tax earnings down 13% year-on-year to £340 million in the six months to 29 August.
CEO's Confidence
Whitbread chief executive Dominic Paul stated, 'We are making excellent progress with our plans and over the next five years are set to deliver a step change in our performance.'
Five-Year Plan
In the same spirit, the company has announced its Five-Year Plan that highlights the scale of their ambition to FY30, ensuring future growth through significant shareholder returns.
Having laid the foundations for future growth, they are executing at pace and remain confident in the outlook as reflected by their increased interim dividend and further share buy-back.
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