Company
LON:WTB
Whitbread PLC is the UK's largest hotel and restaurant company operating businesses in the budget hotels and restaurant sectors. Its brands include Premier Inn, Beefeater, Table Table, Brewers Fayre and Taybarns. Whitbread PLC employs over 33,000 people and serves 8.5 million customers every month in its 1500 outlets across the UK.
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“Whilst we are cautious about short-term market conditions, we are confident in our plans given the significant growth opportunities in the UK and internationally,” said chief executive Alison Brittain.
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All eyes will be on the statement from Fed rate setters later, especially due to the pressure to lower rates from President Trump
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While the market seems expectant around the possibility of a rate cut from the Fed, economists at RBC Capital have said the chance of one in June seems “extremely premature”
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Footsie closed around 11 points higher at 7,357 at the start of the week, while mid-cap cousin FTSE 250 gained over 39 points
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The corporate diary is fairly sparse, but there are some bright spots, notably updates from refocused blue chip hotels group Whitbread and housebuilder Berkeley Group
A lack of new listings on the London market coupled with some large-scale collapses, acquisitions and share buybacks have led to the pool of equities looking more like a puddle
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The FTSE 100 closed 32.86 points higher at 7,218.16 on Thursday, just easing off its late afternoon high of 7,235
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The Day Ahead will also bring updates from two FTSE 250-listed firms, transport operator FirstGroup and water utility Pennon, plus numbers from newspapers group Daily Mail
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The shortened trading Week Ahead will only bring updates from the likes of second-liners FirstGroup, Pennon, Wizz Air, and Daily Mail & General Trust
Premier Inn owner's annual sales and profits came in below analysts forecasts
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The UK's premier share index shed over 22 points at 7,418, while the FTSE 250 shed over 86 points at 19,824
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The Day Ahead also brings updates from the likes of blue-chip lender Standard Chartered, Premier Inn owner Whitbread and pubs group Greene King
Next Tuesday will see first annual results since £3.9bn sale of Costa Coffee chain to Coca-Cola
Morgan Stanley’s analysts said cash return and German expansion are key short-term and long-term supports respectively, but mid-term sentiment will be driven by corporate hotel demand, which remains weak
Holiday cheer as airline stocks gain on hopes holidaymakers will put Brexit concerns aside for summer
Analysts said plans by the FTSE 100 owner of Premier Inn to return around £2.5bn in cash to shareholders were below their own expectations of around £3bn
In presentations delivered at its annual Capital Markets Day, the FTSE 100-listed firm, also forecast a further £220mln in savings over the next three years
The City broker hopes chief executive Alison Brittain and her team make clear their overseas expansion strategy on Wednesday afternoon, as well as explain how much of the Costa sale money will be returned to shareholders
Whitbread said it expects underlying profit before tax in 2020 to be "consistent with this year" as it invests in its hotel expansion
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The UK's premier share index finished down over 27 points at 6,834
