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News - 1 March 2003
Coffee Shop Makes a Profit Shock!
Enough lovers of skinny latte have managed to club together and frequent one of the many coffee shop chains to actually get it into the black
Cafe Nero, which has an outlet in Western Road in Brighton, has managed to make a half year profit for the first time since it opened in 1997. True the profit at a mere £155,000 might not seem like a very newsworthy story but this has to be viewed against a pre-tax loss last year of £760,000 and the fact it is the only chain that has managed to turn any profit at all as the sector sacrifices cash for market share.
Brighton has over a dozen big name coffee outlets in the city centre alone together with dozens more independents. In Market Square in The Lanes three coffee shops sit in a triangle facing each other and it is difficult to see how demand can meet supply either in the city or the country. A big shakeout in the sector as the consumer spending continues to falter is almost inevitable.
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