The Whitbread directors declared an interim dividend of 24.4p per ordinary share amounting to a total dividend of £49.0m on 24 October 2022. A dividend reinvestment plan (DRIP) alternative will be offered.
Other Financial Highlights for Whitbread:
• Premier Inn UK: continued outperformance with total accommodation sales 25.9pp ahead of the midscale and economy ('M&E') market in H1
• Total UK accommodation sales were 101% ahead of H1 FY22 and 35% ahead of H1 FY20
• F&B sales were 95% ahead of H1 FY22 but 5% behind pre-pandemic levels
• Premier Inn Germany: continued market recovery following the easing of restrictions in April, with the more established hotels being profitable for the first time in Q2 FY23
• Statutory revenue of £1,350.4m was 104% ahead of H1 FY22 and 25% ahead of H1 FY20. Adjusted profit before tax was £271.9m, which included £24.9m of adjusted losses before tax in Germany
• Statutory profit before tax of £307.4m benefited from adjusting items, including £33.5m of net property impairment reversals and £2.0m profit from property disposals
• Strong balance sheet: lease-adjusted leverage reduced to 2.8x and net cash increased to £182.1m; pension fund surplus of £429.2m at the end of the period
