Elite Coffee Update - August 2018

Key Highlights

• EIS Advance Assurance received.
• Stores trading profitably, ahead of forecast.
• Average net revenue of £21,679 per week exceeds the projected £16,666.
• Royal Wharf store sales increasing week on week – exceeded £10k per week through July 2018 – despite the wider development being only 70% occupied.
• Gross margins improving following proactive action by management – 69% in June 2018.
• Two stores’ profit covers all central costs.
• Whilst recent press coverage has noted marginal declines in like for like revenue for both Starbucks and Costa, critically, the Elite Coffee (“Elite”) territory covers an area where there is minimal penetration of Starbucks stores within a high growth area. This provides Elite with numerous opportunities to open stores in some high footfall locations.

To view the full update, please click the link below:

Elite Coffee Update – August 2018