Costa increases revenue by 20%
15 October, 2009
Costa Coffee increased its revenue by a fifth in the six months to 27 August 2009, as parent company Whitbread revealed a strong set of figures.
Sales were up 20.6% to £155.4m (2008/09: £128.9m) for the chain, with pre-exceptional operating profit up 72.6% to £12.6m (2008/09: £7.3 million).
Like-for-like sales increased 2.5%, down 1.2% on its half year figures for 2008/2009.
According to a statement released by the firm, the UK coffee chain has also been able to capitalise on the weakness of the high street property market, and has negotiated “better, more flexible rental terms” as well as reducing build costs on new stores by 10% in some cases.
Costa opened 93 new stores in the UK in the first of the year, 72 of which were franchises.