Coffeeheaven the AIM-listed coffee bar group, has reported a 26% increase in like-for-like sales for its first quarter to 31 March 2006.
The company also reported a maiden group profit before tax for its first quarter, while it said group Ebitda “remains positive”.
Unaudited group sales for the period increased by 57% to £2.2m, which the company said was ahead of its expectations.
The company, which operates 50 outlets across central and eastern Europe, saw market like-for-like growth of 25% in Poland, 38% in the Czech Republic, and 24% in Latvia.
The group said it was “cautious” that such like-for-like growth rates could be maintained throughout the rest of its financial year to 31 March 2007.
However, it also said that new products launched during its second quarter, “have been exceptionally well received by customers”.
The company said it was looking at other central European markets in which to expand, with the first coffeeheaven outlet in Slovakia set to open next month.
