30.04.2024 11:08:33 - dpa-AFX: Whitbread: Accelerating Growth Plan To Result In Reduction Of Around 1,500 Roles
DUNSTABLE (dpa-AFX) - Whitbread (WTB.L) said its Accelerating Growth Plan
will result in the reduction of around 1,500 roles out of a total UK workforce
of 37,000. The Group said the Plan will optimise food and beverage offer through
converting 112 and exiting 126 branded restaurants; the Group plans to unlock
3,500 new room extensions that will see it reach at least 97,000 open rooms in
the UK by fiscal 2029. The Group said the plan will drive increased margins and
returns for its UK business. The Group noted that the one-off impact of 20
million pounds - 25 million pounds reduction to UK adjusted profit before tax in
fiscal 2025 will be fully recovered in fiscal 2026.
Dominic Paul, Whitbread Chief Executive, said: 'The short-term impact on our
profit performance this year will be more than offset by an uplift from fiscal
2027 with further increases thereafter in both margins and returns as we open
more of the new extensions.'
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