Whitbread (LON:WTB), the parent company of Premier Inn and a member of the FTSE 100, is set to announce its H1 fiscal 2024 results today. The firm's revenues are expected to remain steady at £1.59 billion, identical to the previous year's H1 figures according to FactSet predictions.
Morgan Stanley (NYSE:MS) anticipates a rise in pretax profit for Whitbread, with estimates suggesting an increase to £360 million from the prior £307.4 million. Additionally, the board is expected to propose a 10% dividend increase.
Following a successful buyback of £300 million in April this year, HSBC predicts another one on the horizon with a headroom of £1.4 billion for further cash returns in 2024. The bank also views disposals as a positive catalyst for Whitbread. This includes an auction of 250 pubs/restaurants valued at £600 million which is seen as a strategy to unlock capital and emphasize the high freehold values in Whitbread's portfolio.
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