Whitbread, the leisure operator, saw total revenue exceed £2bn in the year to 28 February as it announced new milestones to double system sales at Costa to £2bn by 2018 and increase the number of rooms at Premier Inns by 45% to 75,000 by that year. Revenues grew 14.2% to £2.03bn. Like-for-like sales increased by 3.7% and underlying profit before tax was up 11.4% to £356.5m. Full year dividend was up 12.0% to 57.4p. Profit after tax and exceptional items was up 13.3% to £301.3m for Whitbread, which also hoped to create 3,000 net new jobs in 2012/2013, with a further 12,000 expected over the next five years. Costa was again the key driver of growth, with system sales up 22.6% to £1bn. Revenue grew 24.1% to £672.4m. Costa opened 324 net new coffee shops in the year, with a net 186 in the UK and net 138 in overseas markets. Like-for-like sales in the UK grew 6.8% as it benefitted from the innovation in new food and beverage ranges and the growing customer preference for the Costa brand, Whitbread said. "Costa Enterprises also grew strongly with 1,368 net new Costa Express coffee machines taking the total to 2,560." Revenue at its hotels and restaurants arm grew 9.7% to £1.36bn, with Premier Inn growing by 13.1% to £853.8m and Restaurants by 4.5% to £506.3m. "Premier Inn and Restaurants both benefitted from new openings with 4,242 net additional Premier Inn rooms and ten new restaurants on joint sites. Although Premier Inn International did not open any new rooms in the year, it benefitted from a full year of sales on the 375 net rooms opened in the previous year." Like-for-like sales growth for UK hotels and restaurants was 2.8%, with Premier Inn at 3.1%. "This growth was driven by maintaining the quality of the rooms, with 5,979 rooms refurbished in the year, investment in our online distribution and the continued development of dynamic pricing. "This enabled us to outperform our midscale and economy sector competitors, with revpar growth of 1.7%. "Restaurants like for like sales grew 2.3%, led by improvements to our menu offering and the growing customer base staying at the adjacent hotels. Through our continued focus on the customer and by delivering value for money, the number of like for like covers increased 3% compared to last year." Anthony Habgood, Whitbread chairman, said: "Whitbread has grown its total sales in the year by over 14% and continued to produce strong operating cash flows of over £500 million. This has funded both significant organic investment to grow our businesses and a double digit percentage increase in our dividends while maintaining prudent debt levels. "With the Premier Inn and Costa brand propositions going from strength to strength this growth is set to continue." Andy Harrison, chief executive, said: "This is another set of excellent Whitbread results, delivering double digit growth in sales, profit and dividend. Over the last five years, throughout the worst of the economic downturn, Whitbread has grown its sales by 11% per annum and profits by 12% per annum, together with 12% per annum growth in dividends. "Return on capital has also increased from 11.4% to 14.0% over that period. "In April 2011 we established ambitious milestones to grow Premier Inn UK rooms by 50% to 65,000 rooms and to double Costa’s worldwide system sales to £1.3bn. We are well on track to achieve these milestones and have announced new 2018 milestones to grow Premier Inn UK by 45% to around 75,000 rooms and to double Costa’s system sales to around £2bn. "This exciting organic growth opportunity, together with a clear focus on returns, will continue to create substantial shareholder value. "In the first few weeks of our new financial year, group trading has been in line with our plan. Premier Inn has maintained its positive momentum. The unseasonably cold weather has held back sales within restaurants, and benefitted Costa." Whitbread, the leisure operator, saw total revenue exceed £2bn in the year to 28 February as it announced new milestones to double system sales at Costa to £2bn by 2018 and increase the number of rooms at Premier Inns by 45% to 75,000 by that year. Revenues grew 14.2% to £2.03bn. Like-for-like sales increased by 3.7% and underlying profit before tax was up 11.4% to £356.5m. Full year dividend was up 12.0% to 57.4p. Profit after tax and exceptional items was up 13.3% to £301.3m for Whitbread, which also hoped to create 3,000 net new jobs in 2012/2013, with a further 12,000 expected over the next five years. Costa was again the key driver of growth, with system sales up 22.6% to £1bn. Revenue grew 24.1% to £672.4m. Costa opened 324 net new coffee shops in the year, with a net 186 in the UK and net 138 in overseas markets. Like-for-like sales in the UK grew 6.8% as it benefitted from the innovation in new food and beverage ranges and the growing customer preference for the Costa brand, Whitbread said. "Costa Enterprises also grew strongly with 1,368 net new Costa Express coffee machines taking the total to 2,560." Revenue at its hotels and restaurants arm grew 9.7% to £1.36bn, with Premier Inn growing by 13.1% to £853.8m and Restaurants by 4.5% to £506.3m. "Premier Inn and Restaurants both benefitted from new openings with 4,242 net additional Premier Inn rooms and ten new restaurants on joint sites. Although Premier Inn International did not open any new rooms in the year, it benefitted from a full year of sales on the 375 net rooms opened in the previous year. Like-for-like sales growth for UK hotels and restaurants was 2.8%, with Premier Inn at 3.1%. "This growth was driven by maintaining the quality of the rooms, with 5,979 rooms refurbished in the year, investment in our online distribution and the continued development of dynamic pricing. "This enabled us to outperform our midscale and economy sector competitors, with revpar growth of 1.7%. "Restaurants like for like sales grew 2.3%, led by improvements to our menu offering and the growing customer base staying at the adjacent hotels. Through our continued focus on the customer and by delivering value for money, the number of like for like covers increased 3% compared to last year." Anthony Habgood, Whitbread chairman, said: "Whitbread has grown its total sales in the year by over 14% and continued to produce strong operating cash flows of over £500 million. This has funded both significant organic investment to grow our businesses and a double digit percentage increase in our dividends while maintaining prudent debt levels. "With the Premier Inn and Costa brand propositions going from strength to strength this growth is set to continue." Andy Harrison, chief executive, said: "This is another set of excellent Whitbread results, delivering double digit growth in sales, profit and dividend. Over the last five years, throughout the worst of the economic downturn, Whitbread has grown its sales by 11% per annum and profits by 12% per annum, together with 12% per annum growth in dividends. "Return on capital has also increased from 11.4% to 14.0% over that period. "In April 2011 we established ambitious milestones to grow Premier Inn UK rooms by 50% to 65,000 rooms and to double Costa’s worldwide system sales to £1.3bn. We are well on track to achieve these milestones and have announced new 2018 milestones to grow Premier Inn UK by 45% to around 75,000 rooms and to double Costa’s system sales to around £2bn. "This exciting organic growth opportunity, together with a clear focus on returns, will continue to create substantial shareholder value. "In the first few weeks of our new financial year, group trading has been in line with our plan. Premier Inn has maintained its positive momentum. The unseasonably cold weather has held back sales within restaurants, and benefitted Costa."