Coffee firm Matthew Algie brews up jump in revenue

Matthew Algie saw sales hit �33.7m
Matthew Algie saw sales hit �33.7m
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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.

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”.

“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.”