Costa full of beans as coffee sales climb

By Park Sae-jin Posted : December 26, 2014, 17:18 Updated : December 26, 2014, 17:18

 

The owner of the Costa coffee chain has seen its total sales rise by 17 percent in the three months to Nov. 27.

Whitbread said in addition to total sales rising by almost a fifth, UK like-for-like revenue was up 5.2 percent in the quarter.

The company added that it now remains confident of delivering full-year results in line with expectations, with chief executive Andy Harrison describing it as "strong trading momentum."

The owner of the Premier Inns said it also saw good growth in the hotel chain division, with total sales up by 15.4 percent and like-for-like up 8.5 percent in the same period.

The chain has been conducting a heavy rotation advertising campaign for its hotels in recent months.

The revenue per available room metric was up 8.6 percent in the period and occupancy was up two percentage points, to almost 85 percent.

Costa has seen rapid growth in recent years, in part because of a backlash against key rival Starbucks, over the U.S. multinational's tax arrangements.

By Ruchi Singh
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