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Whitbread posts first-half profits ahead of forecasts

Reuters - UK Focus

LONDON, Oct 21 (Reuters) - Whitbread (LSE: WTB.L - news) posted an 18.5 percent rise in first-half profit after new openings and growing demand at both its Premier Inn hotels and Costa Coffee chain helped send sales up strongly.

Whitbread, Britain's biggest hotel and coffee shop operator, said on Tuesday underlying pretax profit for the six months to August 28 rose to 256 million pounds, ahead of a company compiled analyst consensus of 249 million.

Total revenue rose 13 percent to 1.3 billion pounds, including underlying sales growth of 9.6 percent and 6.1 percent at Premier Inn and Costa Coffee respectively.

"The trading momentum of our strong first half performance has continued into the first few weeks of the second half and positions Whitbread well to deliver full year results in line with expectations," it said. (Reporting by Kate Holton; Editing by Li-mei Hoang)