Starbucks franchisee Cobra Coffee suffers £55.5k full-year loss

This is despite sales reaching £28.8m.

Cobra Coffee reported a full-year loss of £55.5k for the year ending 31 January 2023 despite sales growing by 38% to £28.8m from £20.8m last year.

Pre-tax profit fell to £492.8k from £1.5m.

“The Southern Co-operative Limited and its subsidiary Cobra Coffee Ltd obtain their financial strength from a broad range of customers and suppliers across different geographic areas. The company and the larger Group have a solid balance sheet position and significant cash balances. As a consequence, the Directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook,” Cobra Coffee said in its financial statement.

Founded in 2013, the group is Starbuck’s UK franchise partner.,