Costa figures looking frothy for year end

Costa takeaway cup

Whitbread yesterday announced encouraging interim results for Costa for the six months to 27 August.

Andy Harrison, Whitbread chief executive, said: “Costa, the UK’s favourite coffee shop chain, delivered an excellent performance, with total sales growth of 16.2% and continued strong like for like sales growth of 4.4% in our UK equity stores.

“Restaurants made progress in a soft market with total sales growth of 1.2% and like for like sales up 0.1%. Trading momentum in the early weeks of the second half has been consistent with that seen across the first half.

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Harrison said the firm remains on track to deliver full-year results in line with expectations.

“We expect to open around 220 net new Costa stores worldwide,” he said. “We continue to focus on driving long term organic growth, financed from our own resources and delivering a good return on capital to create substantial value for our shareholders.”

Tags : Costa CoffeeFinancial ResultsWhitbread
Kathy Bowry

The author Kathy Bowry

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