|Bid||44.56 x 0|
|Ask||45.02 x 0|
|Day's range||44.67 - 44.67|
|52-week range||39.63 - 50.95|
|PE ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y target est||N/A|
Whitbread said it would pay 35 million pounds for the stake. Costa currently owns 51 percent of the joint venture which operates 252 stores in southern China, along with 93 stores in Shanghai. The business will continue to be consolidated in Costa's and Whitbread's financial accounts, the company said.
Oct (Shenzhen: 000069.SZ - news) 10 (Reuters) - Whitbread (Frankfurt: WHF4.F - news) 's Costa coffee chain is buying the 49 percent of a joint venture in south China held by Yueda Group to bolster its presence in the country, the British firm said on Tuesday. Whitbread said it would pay 35 million pounds ($46 million)for the stake. Costa currently owns 51 percent of the joint venture which operates 252 stores in southern China, along with 93 stores in Shanghai.
The owner of Costa has paid £35m to buy out its joint venture partner in southern China, signalling an acceleration in its coffee shop expansion plans. Whitbread (Frankfurt: WHF4.F - news) , the FTSE 100 leisure group, confirmed a story by Sky News that it was acquiring the 49% stake in the partnership it did not already own from Yueda. It currently operates 252 stores in the south of China, including 93 stores in Shanghai, and Whitbread said the agreement was subject to clearing final regulatory "formalities".
Whitbread (Frankfurt: WHF4.F - news) , the FTSE-100 leisure group, will this week underline its intention to expand its presence in the world's most populous country by taking full control of one of its Chinese joint ventures. Sky News has learnt that Whitbread, run by Alison Brittain, will announce on Tuesday that it is acquiring a 49% stake in its Costa Coffee partnership in the south of China. The deal, which is expected to cost a modest sum in the low tens of millions of pounds, will bolster Whitbread's exposure to Shanghai, where Costa already operates nearly 100 stores.
A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** JPMorgan raises Zurich Insurance Group to "overweight" confident that Zurich will raise its FY17 divi ...
Shares in Whitbread, the owner of Costa Coffee and Premier Inn, have popped close to 5% in morning trade on Wednesday after the company reported better than expected results in the first quarter of 2017. Whitbread's Premier Inn chain of budget hotels exceeded expectations for the start of the year, growing like-for-like sales by 4.7% against a forecast of around 2.9% from analysts prior to the release. Overall, Whitbread grew sales by 7.6%, which was broadly in line with expectations.
Britain's Whitbread (Frankfurt: WHF4.F - news) , which runs the Costa Coffee chain and Premier Inn hotels, reported a 7.6 percent rise in first-quarter sales on improved trading at both its businesses. Whitbread, which had previously warned that it sees tougher trading ahead, said on Wednesday that the performance in the 13 weeks to June 2 was in line with its expectations. Deutsche Bank (IOB: 0H7D.IL - news) , in a client note, called the update "reassuring" with positive numbers in all businesses.
Britain's Whitbread, which runs the Costa Coffee chain and Premier Inn hotels, reported group sales up 7.6 percent in its first quarter. Whitbread, which had previously warned that it sees tougher trading ...
** Whitbread shares down c.2 pct after a four-star rated Goldman Sachs analyst cuts rating to "sell" from "neutral" ** GS expects Whitbread - the owner of Premier Inn hotels and the ...
Shareholder advisory firm Glass Lewis on Thursday recommended investors vote against the reelection of Ian Cheshire to the board of Barclays (LSE: BARC.L - news) , saying he has too many commitments to fulfill all his duties. Cheshire is chairman-designate of Barclays's UK retail bank, which will be separated from the investment bank in 2019 under rules designed to protect savers' deposits. Barclays shareholders will have the opportunity to vote on Cheshire and the bank's other board members at the bank's annual general meeting in London on May 10.
British coffee and sandwich chain Pret A Manger said on Thursday it was on track to grow its global store estate to 500 in 2017 as it reported an 11 percent rise in core earnings. Pret (Shenzhen: 002324.SZ - news) , majority owned by private equity firm Bridgepoint, made core earnings of 93.2 million pounds ($120.2 million) in 2016 as total sales rose 15 percent to 776.2 million pounds. The outcome was a twelfth straight year of revenue and core earnings growth.
British online fashion retailer Boohoo forecast sales growth of 50 percent in its new financial year after a doubling of profit in 2016-17, resisting signs from other retailers that shoppers are turning cautious on spending. Recent official data, industry surveys and company comments, for example from Carpetright (Other OTC: CGHXF - news) and Costa Coffee owner Whitbread (Frankfurt: WHF4.F - news) on Tuesday, have indicated that Britons are starting to feel the strain of rising prices after last year's vote to leave the European Union sent the pound plunging. Boohoo, which sells own-brand clothing, shoes and accessories online to a core market of 16-24 year-olds, has been one of the best performing UK stocks over the last year, almost quadrupling in value.
Whitbread (Frankfurt: WHF4.F - news) , the company behind Costa coffee and Premier Inn, has endured a 7% fall in its share price after warning of a "tougher consumer environment". Whitbread reported like-for-like sales growth across its brands, with Costa sales rising 2%. Premier Inn revenue grew 2.3% by the same measure.
British shares edged higher on Tuesday as a strong Europe-wide market rally after the first round of the French election dissipated and investors focused on corporate results which indicated tougher times ...
Rising inflation and muted wage growth following Britain's vote to leave the European Union last June is forcing many consumers to rein in their spending. "Indications suggest that there is going to be some constraint on (the) pound in the average consumer pocket with inflation and higher petrol prices and a relatively static wage position," Chief Executive Alison Brittain told reporters.
Britain's Whitbread Plc, which runs the Costa Coffee chain and Premier Inn hotels, said it expected the consumer environment to deteriorate next year. The group said it would continue to focus on organic ...