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.

Buy this week's Caterer magazine for more industry news and analysis

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking