FTSE 100 hospitality company Whitbread (LON:WTB) posted some positive headline sales growth figures for the first quarter of the current financial year, with Costa Coffee up by 5.2% and Premier Inn UK rising by 2.5%. However, sales in both chains dropped on a like for like basis, with growth being driven almost solely by new outlets.
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Management said that they were still committed to the Costa demerger announced in April and added that further information would be released alongside the company’s interim results later this year. Shares in Whitbread climbed 2.36% to 3,985p (at 12:30 BST).