JAMES HOLLINS | INVESTEC
Whitbread has provided another nail in the coffin of our bear stance with a strong set of full-year results... With the UK consumer feeling stronger than for a number of years, and the group on track for its 2016 and 2018 targets, our current “sell” recommendation looks overly bearish and goes under review.
RICHARD HUNTER | HARGREAVES LANSDOWN
Investors have come to expect much of Whitbread and these numbers do not disappoint... Less positively, the dividend yield remains anaemic given the current interest rate environment, whilst costs have been under pressure and this may increase further given the underlying price rises for the likes of coffee.
SIMON FRENCH | PANMURE GORDON
We are increasing our below consensus estimates for 2015 full-year pre-tax profits by around eight per cent to £468m reflecting the strong results and a more positive trading outlook... We expect group like-for-like sales are likely to have maintained the momentum from the fourth quarter.