Campbell Bewley grinds out profit rise
Wednesday, 9 October 2002Catering, coffee and cafes group Campbell Bewley has reported pre-tax profits of €4.9m for last year, an increase of 7% on the previous year. Turnover was over 30% higher at €135.6m.
Group chief executive Dan Cronin described the results as 'very robust' given the challenging trading conditions. He said conditions had improved 'substantially' this year.
The company said its Boston based cafes were hit by the effects of the September 11 attacks, but its California outlets - acquired in 2000 - had a strong first year under its ownership.
In Europe, tea, coffee and craft bakery operations were affected by the foot and mouth outbreak and the fall in conference business and tourist traffic. Its UK vending business was hit by a drop in capital spending by clients, but Campbell Bewley said business levels this year had improved significantly.
The group said its Irish contract catering business showed strong growth in 2001, adding a further 51 contracts.
