Matthew Algie – profit up on coffee shop growth
The continued growth of cafe culture has helped Glasgow-headquartered coffee distributor Matthew Algie increase annual operating profit from £3.39 million to £3.74m on a £1m rise in turnover to £33.7m.
Chairman, Eric Hagman, said: “The coffee shop market continues to grow strongly both through new outlets opening and continuing consumer demand.
“However, location is no longer the number one footfall driver – it’s all about quality, presentation and experience. From a retailer perspective competition is becoming more intense – so differentiation is absolutely key.
“Our distribution through non-specialist channels like pubs and bars is growing strongly and we are pleased that our dedication to ethical production has been recognised within the industry and by our customers.”