Starbucks' UK profits lifted thanks to an extra shot of espresso
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UPDATED:
21:03 GMT, 27 April 2012
An extra shot of espresso
gave Starbucks’ UK profits a
boost as Brits flocked to get
their extra caffeine hit.
Since the group added
more coffee to many of its
drinks, latte and cappuccino
sales in Britain have risen by
9 per cent compared with a year
earlier.
‘Offering more value when
it is needed most has proved
very popular,’ said UK
managing director Kris
Engskov.
Overall UK sales were up
slightly during the three
months, the group said.
More value: Since the group added more coffee to many of its drinks, cappuccino and latte sales in Britain have risen
Globally, the coffeeroaster-
to-retailer posted
better-than-expected pretax
profits, which were up
14 per cent to 281.3million for the first
three months of 2012.
In Europe, the Middle East
and Asia, sales from outlets
that have been opened for
more than 13 months
dropped by 1 per cent.
The European economic
climate ‘has taken a turn for
the worse in the last couple
months and that certainly
impacts us,’ said group
finance director Troy Alstead
yesterday.
Starbucks returned to
profit in 2010 after a
restructuring programme
that saw it axe nearly 1,000
outlets and shed staff.
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