Coffeeheaven International PLC (COH.L), a coffee bar operator in Central Europe, on Monday, reported a narrower loss for the full-year 2008 as revenues rose helped by higher turnover from markets including Poland, Czech Republic and Latvia.
Loss for the year narrowed to GBP 0.268 million or 0.22 pence per share from GBP 0.269 million or 0.25 pence per share in the same period last year.
Loss before taxation was GBP 0.07 million, compared to GBP 0.14 million in the prior-year.
Loss attributable to equity holders of the parent narrowed to GBP 0.26 million from GBP 0.27 million in 2007. Finance income was $1.09 million, up from 0.09 million in the preceding year.
Net sales for the period increased 63% to GBP 16.40 million from GBP 10.07 million in the prior-year period. Like-for-like sales growth was 16% compared to 27% a year ago.
The company's turnover from Poland was GBP 11.34 million, up from GBP 8.07 million in the prior-year. Czech Republic reported a turnover of GBP 3.32 million, up from GBP 1.76 million a year ago. Turnover from Latvia was GBP 1.14 million compared to GBP 0.94 million last year.
Total administrative expenses surged to GBP 7.51 million from GBP 4.36 million in the prior-year.
COH.L is currently trading at GBP 35.05, up 0.05 pence or 0.14%, on a volume of 0.38 million shares on the LSE.
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