Whitbread IMS 2012/13 - dividend rasied

WHITBREAD DELIVERS DOUBLE DIGIT GROWTH

WHITBREAD PLC RESULTS FOR THE SIX MONTHS ENDED 30^TH AUGUST 2012

Financial Highlights

• Total revenue up 14.2% to £1,018.1 million (2011/12: £891.3 million)
• Group like for like sales up 4.3%
• Underlying profit before tax up 10.6% to £193.4 million (2011/12: £174.9 million)
• Group return on capital increased to 13.7% (2011/12: 13.4%)
• Whitbread Hotels and Restaurants underlying profit up 8.5% to £181.3 million (2011/12: £167.1 million)
• Costa underlying profit up 29.9% to £36.1 million (2011/12: £27.8 million)
• Underlying diluted EPS up 13.1% to 81.65p (2011/12: 72.20p)
• Strong cashflow from operations up 11.0% to £285.3 million (2011/12: £257.1 million) funding capital investment of £187.6 million (2011/12: £129.0 million)
• Strong balance sheet, half year net debt of £525.8 million (versus £520.1 million at 1^St September 2011)
• Interim dividend up 11.4% to 19.50p (2011/12: 17.50p)

Statutory Highlights

• Profit after tax and exceptional items for the half year up 8.9% to £173.4 million (2011/12: £159.2 million)
• Total basic EPS 98.20p up 8.2% (2011/12: 90.79p)

Growing Strong Brands

• Premier Inn UK grew total sales by 12.9%, with significant outperformance against its competitive set. Like for like sales up 3.7%
• Premier Inn opened 1,591 net UK rooms taking the total to 49,020; with a secured pipeline of over 11,000 rooms; on track for 2016 milestone of 65,000 rooms
• Restaurants performance continued to improve with total sales up 5.3% and like for like sales up 3.4%
• Costa delivered another outstanding performance. Total sales up 25.0%, UK like for like sales up 6.8% and underlying profits up 29.9%
• 141 net new coffee shops taking total to 2,344, up 6.4% from 2011/12
• 1,500 new UK jobs created by Whitbread brands, with 10,000 expected over the next three years

Anthony Habgood, Chairman, said

"Whitbread is continuing on its rapid profitable organic growth path in difficult economic conditions. This is due to our unrelenting customer focus and the use of our strong balance sheet to invest in building powerful brands, developing our people and renewing our estate."