1,378 employees working for the UK’s leading hospitality company, Whitbread – owners of Premier Inn, Costa, Beefeater and Brewers Fayre – are celebrating this month thanks to the company’s annual “Sharesave” scheme, as they collectively made more than £10 million in profit.
Sharing in Whitbread’s success, employees who saved in the five-year scheme stand to quadruple their original investment, whilst those with the three-year option will almost triple theirs. The option price for those people in the three-year scheme is set at 1339.2p and for those in the five-year scheme it is 1008p.
With the share price now trading at around £49.90 on 2 February 2015 (the maturity date), those participants saving the maximum of £250 per month stand to enjoy around £61,000 profit on the five-year scheme and around £24,000 profit on the three-year scheme.
There were 1,295 participants in the three-year scheme saving an average of £70.75 per month and each enjoying over £6,000 profit. There were 122 people in the five-year scheme, with average monthly savings of £48.78 equating to profit in excess of £12,000 each.
Stephen Atherton, Assistant Manager at Brewers Fayre in Widness has been saving £250 per month, the maximum available at that time, in the five year scheme. He said: “I’m absolutely over the moon. I never expected to gain this much from the scheme. I’ve decided to hang onto the shares as I’m hoping the share price will keep going up, and I want to keep it for a fun retirement.
“I’ve been with Whitbread for over 20 years and have seen a lot of changes. It’s been really interesting following the share price as Whitbread has evolved.
“I’d definitely recommend it to my colleagues across the business as you’re in a win-win situation. At the very least, it’s a great way to save your money.”
Andy Harrison, Whitbread CEO comments: “I’m really delighted for those Whitbread team members who stand to make a significant profit on the back of a sharp rise in our share price over the past few years. Our team members work tremendously hard delivering everyday outstanding service to our millions of customers and it’s great that they can personally share in the company’s success in this way.”
The scheme allows all employees to save between £10 and £500 per month and gives them the right to buy shares at the discounted offer price. Under the scheme, they can now choose to exercise their options and sell the shares; exercise their options and retain the shares, or simply get their money back.
FOR FURTHER PRESS INFORMATION, PLEASE CONTACT:
David Allchurch, Tulchan. Tel: 0207 353 4200
Anna Glover, Whitbread. Tel: 07768 917 651
Whitbread PLC is the owner of the UK’s favourite hotel chain, Premier Inn and the UK’s favourite coffee shop, Costa, as well as restaurant brands, Beefeater, Brewers Fayre, Table Table and Taybarns.
Whitbread PLC employs 45,000 people in over 2,000* outlets across the UK, with its well-loved brands making every day experiences special for over 24 million UK customers every month.
Whitbread has outlined growth milestones for 2016 and 2018. The 2018 milestones are to increase the number of Premier Inn UK rooms to around 75,000 and to achieve global system sales of around £2bn for Costa.
At Whitbread we are committed to being a force for good in the communities in which we operate. Our CR programme, 'Good Together' is focused on three pillars of Team & Communities, Customer Wellbeing and Energy & Environment.
In the year ended 27th February 2014, Whitbread PLC reported a 13.0% increase in Group Revenue to £2,294.3 million and Underlying Profit before tax of £411.8 million up 16.5%.
Whitbread PLC is listed on the London Stock Exchange and is a constituent of the FTSE 100. It is also a member of the FTSE4Good Index.
*excludes Costa Franchise stores and Costa Express