Caffe Nero this morning reported a 7.5% increase in like-for-like sales for the year to 31 May, with pre-tax profit before amortisation up 155% to £5.6m. Turnover was up 39% to £70.1m, with Ebitda increasing by 81% to £11.8m. Operating profit improved by 155% to £6.0m. The group said that it had reached a position of self-financing, with internal cashflow now approximately equal to capital expenditure. Cash balance at the year-end was £4.0m with banking facilities of £3.5m available from Royal Bank of Scotland. The company, which has approximately 12% of the UK branded coffee market, opened 52 new stores during the year, bringing the estate to 214 at the year-end. Since then a further 16 sites have been opened, with 41 new stores planned this year. The greatest concentration of these new stores was in the regions, particularly the Midlands, north-west and south-west. The group’s current property strategy sees it focus on building up clusters in urban areas, and expanding into smaller regional towns. This has seen the company build its presence in Manchester, Bristol, Bath, Nottingham and Cambridge, as well as opening in such places as Formby, Lancaster, Huddersfield, Torquay, Fareham, Warwick and Leamington Spa. This year Caffe Nero said it was planning to spend more time analysing international opportunities, namely in Northern Europe and the Middle East. Gerry Ford, the company’s chairman, said: "The group remains well placed to have another successful year. Current trading is encouraging with revenues up 34% during the first quarter and our store opening programme is ahead of schedule. "We will continue to centre our attention on our UK roll-out, whilst examining which overseas markets would provide the best opportunities for our brand."