ANALYST VIEWS: WHAT DID YOU MAKE OF WHITBREAD’S RESULTS?
JAMIE ROLLO | MORGAN STANLEY
Whitbread has reported fourth quarter like-for-like sales growth of 1.8 per cent, in line with our expectations but with a slightly different mix…With a stronger performance at Costa balancing the slightly weaker performance at Premier Inn we do not expect to see changes to consensus for 2012.
WYN ELLIS | NUMIS
Whitbread’s update was mixed with Costa trading very strongly, Premier Inn slowing further, and some recovery at Pub Restaurants. The shares have been solid performers over the last quarter and may be subject to some near term profit taking, but we believe that the long term fundamentals remain attractive.
SIMON FRENCH | PANMURE GORDON
Whitbread expects to report full-year results in line with expectations of around £315m profit before tax but we think consensus expectations of £337m for the full year ending in 2013 will come under downward pressure and we reduce our forecast by five per cent to £329m profit before tax.