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Whitbread on the rise

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Ok, Whitbread is almost like a Starbucks in the UK. And it's evidently only getting bigger.

Leisure group Whitbread plans to invest in its fast-growing budget hotels and coffee shops, and sell underperforming pub restaurants, it said on Tuesday as it posted a 13 percent rise in underlying profit.

The firm said it planned to build about 100 new Premier Travel Inn hotels, expand the chain abroad, and to double the number of its Costa coffee shops to over 1,000 by 2010, boosting its shares as much as 3.8 percent.

Around 250 Beefeater and Brewers Fayre pub restaurant sites where new hotels can not be built could be sold, and the company is also conducting a strategic review of its TGI Friday and Pizza Hut restaurants, it said.



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