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Tuesday preview: Whitbread to update on Q3 trading

A third-quarter trading update from Costa and Premier Inn owner Whitbread is due on Tuesday morning, with the company expected to reveal the extent of the slowdown in like-for-like (LFL) sales growth that it guided to in October.

A third-quarter trading update from Costa and Premier Inn owner Whitbread is due on Tuesday morning, with the company expected to reveal the extent of the slowdown in like-for-like (LFL) sales growth that it guided to in October.

At the company's interim results on October 23rd, in which it reported a 4.3% increase in LFL group sales, Whitbread said that post-Olympics, the London hotel market is "settling" and consumer markets remain "broadly flat".

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Chief Executive Andy Harrison said: "Against this background we expect to continue to outperform our competitors and LFL sales growth to be more moderate than the high levels achieved in the first half."

Panmure Gordon expects LFL sales at Premier Inn and Restaurants to be up around 2%, while the broker predicts that Costa may have received a boost in recent weeks from customers boycotting rival Starbucks.

However, in a research report last week, Panmure said: "We remain cautious on current trading and the increasingly competitive environment in budget hotels and hence reiterate our 'hold' recommendation."

INTERIMS

Ashtead Group, Carpetright, International Greetings, Ishaan Real Estate

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

ZEW Survey (EU) (10:00)

ZEW Survey (GER) (10:00)

Q2

Ashtead Group

GMS

Baronsmead VCT, Baronsmead VCT 2, Baronsmead VCT 3

FINALS

Domino Printing Sciences, Terrace Hill Group, Victrex, Zytronic

IMSS

Whitbread

AGMS

Billing Services Group Ltd., Edinburgh Dragon Trust, Tristel

TRADING ANNOUNCEMENTS

ASOS, Go-Ahead Group, IG Group Holdings, Whitbread

UK ECONOMIC ANNOUNCEMENTS

Balance of Trade (09:30)

FINAL DIVIDEND PAYMENT DATE

Interior Services Group

BC

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