Whitbread PLC has announced its results for the 53 week financial year to 3 March 2016 showing total sales growth of 12.0% to £2.9bn, and like-for-like sales growth of 3.0%.
Premier Inn total sales rose by 12.9% and like-for-like sales rose by 4.2%. Costa saw total sales uplift of 5.9%, system sales up 15.3%, and UK like-for-like sales up by 2.9%.
Richard Baker, Chairman, said, 'With another good set of results, that continue to show the strength of Whitbread's brands, the Board is pleased to announce an increase in the full year dividend of 10%.
'This is a very exciting time for the Company; with our recent senior appointments, we now have a refreshed leadership team, and I am delighted it is being led by Alison Brittain as CEO, to take us on the journey to building a bigger as well as a better Whitbread.'
Alison Brittain, Chief Executive, said, 'Whitbread has had another successful year with good growth in sales of 12.0% and underlying earnings per share increasing by 11.7%, once again demonstrating the strength of our businesses. We propose a final dividend of 61.85 pence per share, which would deliver an increase in the full year dividend of 10%.
'Both Premier Inn and Costa benefit from attractive market growth opportunities and we will continue to capitalise on these by developing our network and brand strength as we fulfil our ambitions to reach c.85,000 UK hotel rooms and c.£2.5 billion system sales in Costa, by 2020.'
Brittain continued, 'The world around us is shifting, with rising customer expectations, an evolving competitor landscape, rapid technological developments and changing cost structures. In responding to this change, I am especially keen to reinforce our relentless focus on our customers and on innovation to develop our brand propositions ensuring we stay ahead and become more productive.
'I have identified three key strategic themes to develop our business: grow and innovate in our core UK businesses; focus on our strengths to grow internationally; and build the capability and infrastructure to support long-term growth. This strategy will enable us to deliver our significant growth ambitions, grow earnings and dividends, maintain good returns on capital and create further value for our shareholders.
Brittain concluded, 'Whilst it is only six weeks into our new financial year we remain confident of making good progress this year.'