A surge in sales at Premier Inn and Costa Coffee during the second quarter powered Whitbread to the top of the FTSE 100 gains list this morning.
The UK’s largest hotel and restaurant group declared a 4.8 per cent increase in like for like sales for the 11 weeks to 18 August and a 3.2 per cent rise in like for like sales for the first half year’s trading.

The share price rocketed 7 per cent on the news to 1,559 pence after Whitbread chief executive Andy Harrison said the results showed the business was now one of the fastest growing companies on the FTSE 100.

He said, ‘This growth combined with a strong like for like sales increase underscores out shareholder value creation and exciting future growth potential.

‘Trading in our restaurants continues to be challenging with customers being particularly price sensitive. Costa grew its total sales by 28.8 per cent and continues to demonstrate that it is the UK’s favourite coffee shop.’

Lloyds Banking Group was the second best performing share on London’s blue chip index this morning, rising by 5.4 per cent to 32.3 pence while Royal Bank of Scotland rose 4.2 per cent to 22.7 pence.

Branches of Lloyds Banking Group became the subject of media speculation during the morning’s session after NBNK – an investment vehicle bidding for the sites – suspended its shares.

At the other end of the table, ITV dropped 0.7 per cent to 54.3 pence while outsourcing group Capita was down 0.5 per cent at 695 pence. Intertek rounded up the bottom three, down 0.4 per cent at 1,913 pence.