Coffee firm Matthew Algie brews up jump in revenue

Glasgow coffee merchant Matthew Algie has posted an increase in sales as it upped its distribution through non-specialist channels such as pubs and bars.
Matthew Algie saw sales hit £33.7mMatthew Algie saw sales hit £33.7m
Matthew Algie saw sales hit £33.7m

Chairman Eric Hagman said strong growth within the market helped lift turnover by 3 per cent to £33.7 million in the latest financial year, while operating profits edged £350,000 higher to £3.74m.

However, margins remain tight and competition is “incredibly fierce”.

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“The coffee shop market continues to grow strongly both through new outlets opening and continuing consumer demand,” Hagman said.

“However, location is no longer the number one footfall driver – it’s all about quality, presentation and experience.”

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