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18% profits rise perks up Starbucks

Starbucks perked up its net income by 18% in the second quarter, as more customers visited its cafes around the world.

The Seattle-based coffee chain said it earned 309.9 million US dollars (£192 million), or 40 cents (25p) per share, for the three months ended April 1, compared with a profit of 261.6 million dollars (£162.1 million), or 34 cents (21p) per share in the same quarter last year.

Revenue for the latest quarter rose to 3.2 billion dollars (£2 billion), up from 2.79 billion dollars (£1.73 billion) a year ago.

Results beat the profit of 39 cents (24p) per share on revenue of 3.18 billion dollars (£1.97 billion) that analysts polled by FactSet were expecting.

The company said revenue at stores open at least a year increased by 7%, as a result of more customers and higher spending per visit.

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From Belfast Telegraph