Caffé Nero to beat City forecasts?

26 May 2005 by
Caffé Nero to beat City forecasts?

Caffé Nero has predicted buoyant trading for 2005.

In a bullish trading statement yesterday, the 210-strong coffee bar chain said revenue would be at the top of market expectations, while profit would outstrip City forecasts.

On the back of what the company called "very strong trading" in the second half of 2005, chairman and chief executive Gerry Ford said the figures were proof that it was coping with the downturn in high-street consumer spending.

"In sharp contrast to some of the high-street retailers, Caffé Nero has continued to experience buoyant levels of trading, with high single-digit like-for-like growth across its estate," Ford said.

The news pushed the company's share price up 12p yesterday, climbing 6% to 201.5p.

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