Nero Group, the parent company of coffee chain Caffè Nero, has reported a significant surge in sales for the first half of its current financial year.
The company achieved record-breaking sales of £310 million for the six months ending November 2024, representing an 8% like-for-like increase and 13.6% overall growth, as reported by .
In the 海角视频, Caffè Nero's sales reached £185.4 million, a notable 11.4% rise, while sales in Turkey and Sweden saw increases of 12% and 9% respectively.
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With a global presence of approximately 1,120 stores across 11 countries and a workforce of 11,000 employees, Nero Group's impressive performance is a testament to its continued success.
The results precede the publication of Caffè Nero's full-year results, expected by the end of the month, which follow the company's previous financial year performance of £450.4 million in revenue and £7.3 million in pre-tax profit, alongside the creation of over 1,000 new jobs.
This positive news contrasts with rival Costa Coffee's reported pre-tax loss of £9.6 million in 2023, despite a revenue increase of over £100 million.
Founded in 1997 by Gerry Ford, Caffè Nero was listed on the London Stock Exchange in 2001 before transitioning to a private company in 2007.
Ford, who serves as the company's CEO, expressed optimism about the results, stating, "The first half was very encouraging."
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"Our success is a reflection of the hard work and outstanding service from our store teams and the real momentum we’ve built through menu innovation."
"I was particularly encouraged by our cinnamon bun, which sold over quarter of a million units after its launch in Q2, and the famous maritozzi bun, which took the country by storm and sold close to half a million units in the first half of the year."
"We have delivered record sales at both group and 海角视频 level, and it leaves us well placed to have a strong full year, despite significant financial costs and challenges which the business will have to overcome in the coming months."