Whitbread also said it will reduce its chain of restaurants by more than 200 - and instead will build more hotel rooms as part of a major business overhaul
Hospitality group Whitbread has announced a £150m share buyback and beefed up its dividend after seeing its bottom line jump by more than a third in the year to 29 February, as it unveiled plans to cut jobs as it turns underperforming restaurants into more hotels.
Whitbread (WTB.L) reported pretax profit of 451.7 million pounds for the 52 weeks to 29 February 2024 compared to 374.9 million pounds, last year. Earnings per share was 159.
Whitbread plc (LON:WTB – Get Free Report)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as GBX 3,028 ($37.40) and last traded at GBX 3,031 ($37.44), with a volume of 1223683 shares. The stock had previously closed at GBX 3,112 ($38.44). Wall Street Analysts Forecast […]