Starbucks UK has outlined plans to open another 100 stores in the UK for the second year in a row.
The coffee supergiant delivered total revenue up 21.9% to £547.7m, while pre-tax profit soared by 65% to £16.9m.
The business currently has 1,168 shops across the UK, up from 1,066 in 2022, including 354 company-owned stores and a further 814 which are ran by licnesees.
Britain's second-favourite coffee shop - trumped by Costa - paid £7.2m corporation tax, up more than 50% from the year previous, representing an effective tax rate of 42.4%.
The company said: "Strong, resilient revenue growth continued, even with challenging economic headwinds in the UK.
"Investment in drive thru stores and digital channels such as mobile order and pay systems, delivery services, and improvements to the loyalty program which saw a 100 per cent increase in 90-day active membership going from 600k to 1.2m, has continued to go from strength to strength."
FTSE 100
The UK's flagship share index, the FTSE 100, was down 16-points at 7,914 shortly after opening this morning.
Brent crude oil futures was down 0.93% today, trading at $84.83 a barrel.
Companies reporting today
- Carnival - Q1 results
- Endeavour Mining - Full year results
- Ithaca Energy - Full year results
- Playtech - Full year results