Caffé Nero registers record half-year results
Rapid expansion outside of London has helped Caffé Nero register record half-year results in the six months to 30 November 2005.
Caffé Nero opened 30 new sites in the period and 24 of these were outside the capital, in locations such as Nottingham, Chester, Stockton and Lewes.
By 30 November the coffee bar company operated 244 stores, and has opened another six since, bringing its total to 250.
By the full-year the company intends to have 255 stores and plans to continue concentrating its rollout on the regions.
Chief executive Gerry Ford said: "Caffé Nero is well placed to report another successful year as we continue to expand, deliver great service to our customers and focus on maximising shareholder value."
Turnover in the half-year increased 32% to £43.3m (2004: £32.8m). Pre-tax profit jumped 384% to £3.5m (2004: £700,000).
Store profit increased 45% to £10.9m (2004: £7.5m). Like-for-like store sales were up 6% in December and January.
By Chris Druce
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