Sharesave profit for Whitbread workers

Over 1,000 Whitbread employees have made over £6 million between them through the company's Sharesave scheme.

Those workers who saved as part of the five-year long scheme stood to see their investment quadruple, the company announced February 3rd.

Others, who took part in a three-year scheme, were set to see their investment grow by over 100 per cent, it said.

Some 1,094 people who work for the hospitality company, which owns the likes of Costa and Premier Inn, made in excess of £6 million of profit between them due to the Sharesave scheme.

"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," commented CEO of Whitbread, Andy Harrison.

He said employees worked very hard to bring customers an outstanding level of service daily and that it was great workers could take a share of Whitbread's success.

Whitbread reported earlier this month that those in its three year scheme have an option price of £14.14, and that this is £7.28 for those taking part in the five year option.

The maturity date was February 3rd, when the share price was trading at about £37.50, which meant people who saved as the maximum level of cash, £250 monthly, stood to benefit from some £69,000 profit if they were using the five-year scheme or £15,000 if using the three-year version.

As of this morning, February 10th at 09:38 GMT, the share price was even higher, at £39.48.

Some 895 people took part in the Sharesave scheme lasting three years and saved £51 monthly, on average. Meanwhile, 160 people took part in the five-year long version, saving £77 monthly, on average.

One person who has put away £250 monthly over half a decade is Chris Thompson, who manages a branch of Costa Coffee in Chester.  

"This is potentially a life changing sum of money for me. I’m not planning on selling all the shares straight away as I want to benefit from the dividend and also any further increases in the share price, but I am planning on selling some to help pay for a family trip to New Zealand," he said in a February 3rd statement.

“I’m so excited. I’ve downloaded a share monitor app to my phone so I can check my shares everyday. I’ve been telling my team to join the scheme, even if it’s only ten pounds a month as it’s a win win!”

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