Coffee Republic Plc Preliminary Results

29th August 2008


PRELIMINARY RESULTS

Coffee Republic PLC, the independent coffeehouse franchisor and operator, announces its preliminary results for the year to 30 March 2008


Key Points:

• The number of total outlets has more than quadrupled, to 193 since the beginning of the 2008 financial year (26 march 2007) driven by a large growth in concession outlets.

• The number of franchise units has doubled, to 53, in the same period. There are now 69 full service stores, including company owned, in the UK.

• There are ten international stores now open, principally in the Middle East and Eastern Europe with roll out commitments for more than 200 stores over the next 5 years.

• CEO to move to vice - chairman and maintains major shareholding as the business enters a phase of consolidation and refinement.

• Like for like sales for the total network for the quarter ended 29 June 2008 are 2.5% positive driven by a strong performance from the franchise bar portfolio.

Preliminary Results - Financial

• Financial results show a net loss of £2.50 million (2007: £2.42million) with £0.7m of fixed asset impairments and loss on disposal.

• Reported sales down 39.8% to £5.8 million following the conversion to franchising. Total network sales grew 9.0%, based on UK franchises and Company stores.

• A further £620,000 repaid to the bank during the year.

• Operating losses stable at £1.6m with the company absorbing unexpected costs of circa £200,000 and taking a bad debt impairment of £191,000.

Commenting Peter Breach, Chairman, said:

'This has been a year of significant change with the brand now represented across the UK and in twelve countries overseas.

We are still in a turnaround period and our costs have continued to outpace our income as we vigorously invest in the future of this global brand.

I continue to be impressed by the strength of the brand and I am convinced that our focus on Company owned bars, UK and International franchising and concessions is the most effective way to deliver profits to our shareholders in the medium term.'

For more detail please click here.

Coffee Republic now open in Perth, Scotland?

20th August 2008

More information to follow.....

CR Deli in Kuwait now up and running!

20th August 2008

Just arrived from London to Kuwait, Coffee Republic, the famous British espresso coffee house opened this week serving a wide range of HOT and COLD drinks in addition to freshly baked bread and pastries and freshly made sandwiches.

CR is now open at the Universal Tower at the Derwaza, Ahmed Al-Jaber Street and will have more branches soon at the free trade zone, Salmiya and Highway restaurants area at Mina Abdulla.

source: http://www.moeys.net/2008/08/22/coffee-republic-opened/

New Coffee Republic up and running in Bury, Lancashire!

18th August 2008

Congratulations to Andrew and Richard Liles who have opened a new Coffee Republic in Bury. Situated close to the Mill Gate Shopping Centre, the new Coffee Republic offers free Wi-fi and the Deli range alongside the usual great Coffee Republic drinks range.

New Coffee Republic in Quality Crown Hotel, Kensington

17th August 2008

Coffee Republic now features in the Quality Crown Hotel in Kensington, London.

http://www.qualitycrown.com/kensington.htm

Coffee Republic switches on Barclaycard contactless payments

4th August 2008

Coffee Republic switches on Barclaycard contactless payments
Leo King

Follows four month trial

Coffee Republic has begun a rollout of contactless payments using Barclaycard OneTouch technology.

The cafe chain will install the technology in its 16 company-owned outlets across the UK. It is also in discussions with franchise owners about using the technology in their approximately 40 outlets.

The news follows a successful trial in five London stores, where there was a 50 per cent growth in contactless payments during the four month trial to April this year. Just under a fifth of credit card transactions were made in a contactless way in the period.

It said it was the first coffee chain to start contactless payments, which allow customers to pay for goods up to the value of £10 without needing a pin number, and by just swiping their cards. The system is also used by chains including Krispy Kreme, Yo Sushi and Books etc.

Coffee Republic is using the system because speed of service had become a concern, especially during peak times.

Keisha Meade, electronic point of sale systems manager at Coffee Republic, said the technology was making a big difference to service times, especially since many of its bars have only one till.

“We have seen an incredible appetite for the technology from our customers, in particular our Canary Wharf outlet where knowledge of contactless has proved to be very strong,” she said. “Customers recognise the technology, understand how to use it and are aware of its advantages such as speed and simplicity.”

http://www.cio.co.uk/concern/customers/news/index.cfm?articleid=3015&pagtype=allchandate

RNS - IMF's agreed for Malta and Jordan

Coffee Republic PLC - Convertible Loan Note Issue
RNS Number : 5607A
Coffee Republic PLC
04 August 2008

Coffee Republic Plc ('Coffee Republic' or the 'Company')
Issue of Convertible Loan Notes, the buy back of various Regional Development
Franchise ('RDF') agreements and the granting of International Master Franchises
('IMF') for Jordan and Malta.

Coffee Republic is pleased to announce that an additional £270,000 of convertible loan notes ('Loan Notes') were issued on 31 July, being the closing date for the Loan Note issue. This brings to £780,000 the total Loan Notes issued.

The £270,000 additional Loan Notes have been used as consideration to buy back a number of RDF agreements where the Company and the RDF believe it is in the best interests of both parties to do so. All the individual RDFs concerned continue or plan to operate Coffee Republic franchises.

Furthermore, Coffee Republic announces that all RDF agreements with CR Direct Ltd have been terminated.

Coffee Republic also announces that it has recently signed IMF agreements for both Malta and Jordan with roll out plans of 5 and 7 stores respectively.

This continues the expansion of the Coffee Republic internationally and the Board remains confident that further international deals will be signed during the coming year.

Coffee Republic heading for Bahrain City Centre

4th August 2008

Bahrain City Centre (BCC), the region's latest shopping destination due to open in September 2008, is set to be a food-lover's paradise.

Coffee lovers will also be spoilt for choice with 11 cafes brewing the rich flavours from Coffee Republic, Gloria Jeans, Caribou Coffee, Al Bindaira and The Coffee Bean. Bahrain's own Shawarma Express, Al Abraj, Jasmis and Maya La Chocolaterie will enrich this culinary choice with local specialties.

http://www.ameinfo.com/165254.html