London, Nov 28 - UK-based coffee bar operator Coffeeheaven International Plc said on Friday its sales in the first two months of the second half remained strong and ahead of its view, as it posted first-half like-for-like sales up 16 percent.
The AIM-listed company, which runs 90 branded coffee bars in central and Eastern Europe, swung to a first-half pretax profit of 16,000 pounds on total revenues up 82 percent to 11.9 million pounds ($18.36 million).
Coffeeheaven said while it would withdraw 3 stores from Slovakia and Romania due to difficult market conditions, it would focus on store openings in the Polish market and was planning 8 new stores there by March 2009.
"We already see evidence that the current global crisis could provide a number of potential 'one-time' opportunities for Coffeeheaven to increase market share in central Europe and to further consolidate its sector leadership position in the region," Chief Executive Richard Worthington said.
Full-year pre-ex pretax profit for the year to end-March 2009 is expected to be 0.27 million pounds, according to 3 analysts on Reuters Estimates.
Coffeeheaven ranks 6 in the UK food and drug retailers sector with a market capitalisation of 18.7 million pounds, behind confectionery and sweets retailer Thorntons with a market capitalisation of 64.3 million.
At 0834 GMT, shares in Coffeeheaven were up 1.67 percent at 15 pence.