Home-grown coffee chain Bob & Berts has reported a record £21.5 million turnover in its latest financial year, following the opening of four new stores.
The business, which established its first coffee shop in Portstewart in 2013, opened its 30th site during the year to June 30 2024.
The latest accounts for the coffee chain, published on Companies House, show its turnover increased by 9.75% in the past year.
The group narrowed its losses in the 2023/24 trading period, but still ended the year with a pre-tax loss of just under £395,000.
Bob & Berts said the loss was due to a combination of £355,000 in exceptional costs linked to the new store openings and impairment assets totalling £262,000.
The year to June 30 2024 saw Bob & Berts open four new outlets in Blackpool, Wakefield, Strabane and Belfast’s Ann Street
The coffee company founded by Colin McClean and David Ferguson just over a decade ago, accelerated its growth trajectory after being backed by BGF in 2017.
It now has 17 sites in the north, along with seven in England and six in Scotland.
The group has set a target of opening 100 sites by 2030, which would require a significant acceleration on its current pace of growth.
The latest company report reveals its group headcount fell slightly from 584 people to 575 in the year to June 2024.
However, staff costs increased by 11% in the same period to £8.5m.
In commentary published along the accounts, the directors said sales and transactions for the latest financial year remained strong.
Alongside the impairment losses, the directors pointed to the increased costs of sales and labour cots.
“Looking ahead the directors foresee food and drink inflation and energy costs continuing to stabilise.
“The current challenge faced by the business is the continued increasing labour costs.
“Management believe this will continue to be a challenge over the next 12 months and have reacted by implementing several store design and technology initiatives to generate store efficiencies.
“Management believe that as these projects are embedded into the organisation and sales remain strong, the group will return to profit in FY25.”
Another record year for Bob & Berts after opening four new coffee shops – The Irish News
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