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Whitbread in £300m buyback
Evening Standard
|October 18, 2023
THE return of business and tourist travellers to London has helped power a sharp rise in profits and a shareholder payday at Whitbread, owner of Britain's biggest hotel chain Premier Inn.
Room bookings in the first half of the year were 15% higher, sending revenue to £1.6 billion, up 17%. Demand in the capital stood out, up almost a quarter.
The FTSE 100 company unveiled plans today to return £300 million to investors via a share buyback, alongside news of a 44% rise in adjusted profit before tax of £391 million for the period.
It also upped its regular dividend by 40% to 34.1p per share.
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