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Whitbread Q1 UK LFL Sales Down 3.7% - Quick Facts

Whitbread plc (WTB.L) said it has delivered a resilient performance in the first quarter despite more challenging market conditions. Looking ahead, Whitbread said, whilst it is cautious about short-term market conditions, the Group is confident in its plans. Also, Whitbread plans to launch a tender offer to repurchase up to 2 billion pounds of shares on 20 June, as the second phase of return of capital related to the net cash proceeds from the sale of Costa.

First-quarter UK total like-for-like sales declined 3.7%. Total UK sales declined 1.1% as UK total accommodation sales were down 1.5% in the quarter due to weak trading conditions. UK & International total sales were down 1.0%.

Alison Brittain, Whitbread Chief Executive, said: "Our expansion into Germany is firmly on target. Our new hotel opening in Hamburg is performing above our expectations and our hotel in Frankfurt continues to perform well."

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