Costa revenues grow 10.3% in the first half

Whitbread reported its interim results for 2016/17.

According to the report, Costa UK brought in £500.2 million in revenues during the period, with like for like sales increase of 2.3%. The revenues showed a 10.3% growth in comparison to the same period last year.

For its international division, Costa reported revenues of £69.5 million, showing a 13.7% growth at constant currency of 8.2%.

However, the coffee chain posted an operating profit of £63.4 million, a decrease of 3.5% from last year's £65.7 million. Operating profit for its international division fell 25%, from £1.6 million to £1.2 million.

In system sales, Costa reported an 11.9% increase to £845.1 million. UK sales contributed £655.6 million, up 9% from last year, while Costa international brought in £189.5 million, up 12.1%.

The brand also opened a net 124 new stores for the first half.