It’s been a good week for UK companies’ earnings reports. One day after Shell announced record profits, coffee chain Caffe Nero said its profits had almost trebled from £735,000 to £1.89 million in 2004.
Most of that increase in profits was down to expansion, with the company opening an average of five stores a month last year. Sales rose 40% as a result, but demand within individual stores also rose, with like-for-like sales increasing by 6%.
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