Whitbread beats first-half profit estimates, rejects Corvex Management's board demands
MOVE Corvex Inc
$4.71 -17.37%
View chart & analysis → - 1Whitbread urged shareholders to oppose Corvex Management's demand for board seats, supporting its five-year turnaround plan.
- 2Whitbread's adjusted pre-tax profit of 287,000,000 pounds for the 26 weeks ending August 27 decreased 9% from 316,000,000 pounds in the same period last year.
- 3Whitbread's revenue of 1,570,000,000 pounds increased 2%.
So what's the key point?
Whitbread rejected Corvex Management's request for board seats. Although profits fell 9%, revenue increased, and the company is moving forward with its current plan.
Source Investing.com · View original ↗
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