Both the in-line revenue and the market-beating adjusted profit exceeded their pre-pandemic levels in the past HY as the inspiring trading trend extended into Q3. Whitbread now foresees tougher market conditions on the back of inflation, but diminishing interest costs and the slightly more favourable loss outlook in Germany should allow an offset effect. Additionally, the group has managed to upsize its long-term network target following a contraction for independent operators. We expect an upgr ....
