The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Caffe Nero almost trebles profits

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%.

Chairman Gerry Ford said that the expansionist policy would continue, with the company hoping to open the 210th store in May this year (up from 198 at the moment). The company will also continue to buy up competitors' stores ? it bought eight Coffee Republic branches between May and November 204.

Shares finished the day up 10% at 135.5 pence. Caffe Nero is the third largest coffee chain in the UK after Starbucks and Costa Coffee, and was Europe's 20th fastest growing company in the year November 2003 to November 2004.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree