Owner of Costa Coffee and Premier Inn to create 12,000 jobs

(Source: Reuters)

Whitbread, the owner of Costa Coffee and Premier Inn, has released results for the financial year to 28 Feburary (release). The firm plans to create 12,000 UK jobs over the next five years. The company created 3,000 net new jobs in 2012.13.

Unseasonably cold weather was said to have benefitted Costa Coffee, with group profit before tax rising from £305.8m to £355.3m. Premier Inn revenues rose by 13.1 per cent, while the number of UK rooms was up by 8.9 per cent to 51,671.

Chairman Anthony Habgood commented on the results:

Whitbread has grown its total sales in the year by over 14% and continued to produce strong operating cash flows of over £500 million. This has funded both significant organic investment to grow our businesses and a double digit percentage increase in our dividends while maintaining prudent debt levels. With the Premier Inn and Costa brand propositions going from strength to strength this growth is set to continue.