THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Costa helps boost profits at Whitbread

Costa increased its underlying profits by 20.5% to £43.5 million in the first half of its financial year with total sales rising by 20.9% as trade was boosted by a strong store opening programme.

GENERAL MERCHANDISE

Costa helps boost profits at Whitbread

Costa increased its underlying profits by 20.5% to £43.5 million in the first half of its financial year with total sales rising by 20.9% as trade was boosted by a strong store opening programme.

In the six months ended 29 August 2013, total worldwide system sales climbed 19.5% to £569.2 million.

In the UK, total retail sales were up 15.8% with 5.5% growth in like-for-like sales which was mainly the result of a 5.1% rise in transactions.

The growth in store numbers means that Costa now operates a total 1,664 outlets in the UK, over 800 more than its closest competitor. The coffee chain also benefited from product innovation in the period with the new Costa Ice range representing 33% of sales during the July heatwave.

International sales also performed well with 52.9% growth in systems sales in Asia and 10.2% growth in EMEI. During the first half, Costa opened 30 net new stores in China taking the total in the country to 283.

Across the group, Whitbread increased its revenue year-on-year by 12.4% to £1.14 billion due to a combination of like-for-like growth of 2.8% and the opening of new units. Underlying pre-tax profit was up 12.6% to £216.1 million.

Whitbread chief executive Andy Harrison said: “This good first half performance puts us on track to deliver this year's business plan and we remain on the right trajectory for our 2016 and 2018 growth milestones. Our combination of strong organic growth, good returns on capital and strong cash flow should continue to create substantial shareholder value."

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019