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UK pubs operator Daniel Thwaites' H1 revenue rises on good weather and football World Cup

By Reuters News


Overview

  • UK pubs and hotels operator's H1 revenue rose 4% yr/yr to £69.3 mln

  • Earnings per share for H1 increased 25% yr/yr to 14.1p

  • Company bought back 640,000 shares at 93.0p each during the period


Outlook

  • Company expresses caution about outlook for rest of yr amid economic uncertainty

  • Company says elevated energy prices and high inflation may impact investment costs

  • Company calls for government action to address structural cost increases in hospitality sector


Result Drivers

  • WEATHER AND WORLD CUP - Co said good weather and the football World Cup boosted trade in pubs and inns

  • PROPERTY DISPOSALS - Operating profit increase partly due to profit on disposal of a development site

  • COST CONTROL AND REFURBISHMENTS - Inns and hotels benefited from recent refurbishments and focus on cost control, supporting profit growth


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Revenue

GBP 69.3 mln

H1 EPS

GBP 0.141

H1 Adjusted EBIT

GBP 10.4 mln

H1 EBIT

GBP 11.2 mln

H1 Net Debt as on on Sept 30

GBP 68.7 mln


Reuters Recommended Reads

  • Nov 11 - UK's Fuller Smith & Turner H1 revenue rises on football events

  • Nov 9 - British hotel operator Whitbread's shareholders reject Corvex-backed director

  • Nov 10 - Scandic Hotels Q3 sales meet estimates on strong demand; expects higher occupancy, rates in Q4


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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