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Abstract:(Reuters) – Premier Inn owner Whitbread resumed dividend payments to shareholders on Thursday, and said its future bookings in leisure and business segments at its British hotels have surpassed pre-pandemic levels.
div classBodysc17zpet90 cdBBJodivpReuters – Premier Inn owner Whitbread resumed dividend payments to shareholders on Thursday, and said its future bookings in leisure and business segments at its British hotels have surpassed prepandemic levels.p
pThe Londonlisted company, which started out as a brewery in the eighteenth century, said its UK accommodation sales for the year ended March 3 had nearly trebled from a year earlier when pandemic restrictions were still in place.pdivdivdiv classBodysc17zpet90 cdBBJodiv
p“As restrictions eased after the first quarter, high levels of leisure demand and improving business demand helped drive UK accommodation sales ahead of preCOVID levels throughout the summer and into autumn,” Whitbread Chief Executive Officer Alison Brittain said in a statement.p
pBy contrast, Whitbread said its German business has been recovering at a slower pace as coronavirus curbs in the country have lasted longer. p
pWhitbread said it expects industrywide cost inflation to reach 89 in 2023, higher than initially thought, as British households and businesses bear the brunt of inflation reaching its highest in three decades. p
pThe company, which owns steakhouses Beefeater and BarBlock, reported annual statutory profit before tax of 58.2 million pounds 72.8 million, versus a loss of 1.01 billion pounds a year earlier.p
pWhitbread said its dividend of 34.7 pence per share will be payable on July 1. p
pShares of the Dunstable, UKbased company climbed nearly 4 in early trading on the London Stock Exchange. p
p1 0.7990 poundsp
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pp Reporting by Radhika Anilkumar in Bengaluru Editing by Sherry JacobPhillipsp
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