Campbell Bewley profits up 14% last year
Tuesday, 18 November 2003Catering and coffee group Campbell Bewley has reported pre-tax profits of |5.6m for last year, an increase of 14% on the previous year.
Turnover fell slightly to |134.5m in what chief executive John Cahill called a 'challenging environment'. He said increases in energy costs, rents and insurance premiums also affected the group
Campbell Bewley said its US operations had an excellent year, while its Dublin-based coffee and tea businesses also performed well despite a decline in tourism., but lower spending and higher costs affected returns from its cafes business.
The group also announced today that its US subsidiary Java City had signed a five-year contract to supply speciality coffee to Delta Air Lines. It is also to expand its franchised coffee operations in South Korea from the current six outlets in the capital Seoul.
The company has also announced a share buyback scheme from staff. The scheme will benefit 500 current and former workers holdings up to 2,000 shares each at a price of |4.90 per share.
