Trading Statement
21 January 2004 - 6:00PM
UK Regulatory
RNS Number:4578U
Coffeeheaven International PLC
21 January 2004
coffeeheaven international plc ("coffeeheaven international" or "the Company")
Trading and New Site Update
coffeeheaven international, the AIM-listed speciality coffee/sandwich bar
business based in central Europe, is pleased to announce that it has been
successful in contracting a key 'airside' site at Warsaw's International Airport
'Fryderyk Chopin' ('WIA'). WIA is Poland's principal commercial airport and an
important regional hub for central Europe.
In the opinion of the Board, this new coffeeheaven unit (when opened) will be
the first contemporary coffee bar concept at WIA. The site, which is expected to
open at the end of February 2004, was secured through a tender in which a number
of national and international parties participated. The Company is delighted
that the P.P.L. (Polish Airports State Enterprise) selected coffeeheaven for
this flagship airport location. The Board considers it an important further
endorsement of coffeeheaven's leadership position in Poland's coffee bar market.
The Company has also concluded the acquisition of a single coffee bar unit from
a minor competitor. This secures an important strategic location for the Company
in Poland's second city of Krakow, which is also the country's leading tourist
destination. The new unit will open under the coffeeheaven brand name in
February 2004.
In the Company's Interim Statement dated 18 November 2003 caution was expressed
on the rate of new site openings in the current financial year. However, the
above, together with 18 stores currently trading and a number of other positive
developments in respect of new locations, means that the Company is now able to
express confidence of reaching its target of 22 trading units in Poland by end
of the current financial year to 31 March 2004.
Trading in the third quarter to 31 December 2003 has been buoyant and like- for-
like sales increased a robust 15%, whilst total sales for the quarter grew 45%.
In addition, the margin improvements flagged in the Interim Statement are also
coming through.
For further information, please see the Company's website,
www.coffeeheaven.eu.com or contact:
Richard Worthington, Tel: +48 606818850 or +44 7973 442331
Chairman and Chief Executive E-mail: richworth@aol.com
Sandra Hewett, shmr Tel: 020 7689 3116
E-mail: sandra@shmr.co.uk
Jeremy Porter, Seymour Pierce Ltd Tel: 020 7648 8700
This information is provided by RNS
The company news service from the London Stock Exchange
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