Whitbread PLC Updates Financial Outlook Following UK Budget Business Rates Freeze

Whitbread said the UK Budget’s freeze on business rates for hospitality businesses in England will materially improve its financial outlook. It expects business rate payments to rise by only £7.5 million to £12.5 million in FY28, versus a previous consensus expectation of about £35 million, and estimates payments will be £45 million to £60 million lower by FY29 than previously forecast. Whitbread said the change supports its Five-Year Plan and will provide updated FY28 UK cost-inflation guidance in due course.