Updates from Whitbread Redrow and King
Costa revenue surge 16.7 PERCENT meanwhile housebuilder Redrow average price tag increases 13% to £269,800
A 31.6-point climb for FTSE 100 on Monday. Miners found substantial rises with Antofagasta and Glencore equally up 7 PERCENT to 607p respectively. Pearson was a strong climber, up 3%, served by two broker improvements around the stock. Meanwhile a 2% raise is for United Tools. The greatest loss recently was Standard Chartered, up 1.6% to 701.4p.
Around in the US although Dow nosedived 1.6%, not served by China stocks continuing their selloff amid a further limit from the data office of China. New regular business information shows Oriental June imports shrank 14.3%.
We begin the day using a trading statement from Whitbread for that 24 weeks to 13 August. Top Inn like-for-like 5.3% rose with complete revenue up 12.9%; Costa observed like-for- like sales up 4.6% while total sales were up 16.7%.
Costa says vacation and weather styles usually frequently struck August and trading this past year, this June, across all brands, was smoother than anticipated against comparatives from the sturdy month it says.
However first-half effectiveness “keeps us on track to provide our ambitious development goals, along with full year objectives. This year we intend to install Costa Express devices and to start 5,500 UK bedrooms around, around 220 web new Costa shops worldwide.”
We stay with the beverages business. Inside the first 18 months of the year like-for-like (LFL) income in Greene King Retail expanded 1.3% with growth of 1.9% within the last few twenty months it claims.
Eliminating drink’s effect restrictions in Scotland -for- sales were up 1.8 or over 2.4% within the last five days. N+1 Singer recently hiked its target price to the stock to 830p (currently 811p).
However first half performance “keeps us on track to deliver full year expectations, as well as our ambitious growth milestones. This year we plan to open around 5,500 UK rooms, around 220 net new Costa stores worldwide and to install 700-800 new Costa Express machines.”
Eventually, complete-year figures from housebuilder Redrow. 33% rise to £1.15bn influenced by way of a escalation in average value plus a escalation in legitimate completions 800, to £269.
Pre tax earnings get to £204m, up 53% while profits per share soars 56% to 44.5p; the return on collateral increases to 26.4% (2014: 20.5%). Online debt is lower to in 2014.
