▲ Up
 
18:58 18-10-2017
АКИpress CA-News Tazabek Turmush
ADVERTISE WITH US SUBSCRIBE
KazakhstanKyrgyzstanMongoliaTajikistanTurkmenistanUzbekistanWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
Starbucks sales drop down for the first time in 16 years
15:13, 25 April 2014, 759

AKIPRESS.COM - starbucks Starbucks' turnover dropped last year for the first time, in the wake of revelations about its corporate tax practices.

Sales for the year to September 29 were 399 million Euro, a decline of 3.4% compared to the previous year.

The company said the decline, the first since it started UK operations 16 years ago, was due to the closure of unprofitable outlets and not the result of other reasons.

It reduced its average UK workforce by 11.6% in the financial year to 7,726.

Starbucks was able to increase its gross profit by 13% to £79.7 million, before deductions of £100.5m were taken into account.

Its pre-tax loss was 20.4 million in the period, down from the £30.4m recorded in the 2011-12 financial year.

The company's tax liability in the period was £3.4 million, but including deferred taxation was reduced to £2.25 million, NewsSky said.

It said the £10million fall in the pre-tax loss was largely due to the rise in gross profits. Its staff costs dropped £13.5 million in the tax year compared to the previous year.


Full access to all news articles in English

1 month2000 somsubscribe
year20000 somsubscribe
These subscription fees are for private individuals only. Please contact us via phone +996 (312) 900-776 or email info@akipress.org for corporate subscription inquiries
Twitterfacebookprint
LATEST NEWS
17:53 Xi Jinping: 'Time for China to take centre stage'17:36 Kyrgyz, Russian foreign ministers discuss situation in Central Asia17:30 Kyrgyz officer detained with hashish on border with Kazakhstan to be kept in custody for 1 month17:19 Uzbekistan interested in participation of U.S. companies in modernization of country’s industrial enterprises16:26 Ambassador of Uzbekistan to U.S. hands in copies of credentials16:23 "Current fuel reserves will be enough for 1 month:" Association of Oil Traders16:17 Tightening of control on Kazakh-Kyrgyz border in interests of EAEU countries – Kazakh Foreign Ministry16:14 Coal production grows 13.6% in Kazakhstan in 9 months: Statistics Committee15:23 Uzbekistan, Iran foreign ministries sign cooperation plan 2018-201915:16 Tajikistan, Russia emergencies departments sign cooperation plan 2018-201915:05 Tajikistan authorities draw up list of gay and lesbian citizens14:59 Ulaanbaatar designed to accommodate no more than 500,000 people: Mayor14:35 Kazakhstan ready for water discharge from Kirov dam by Kyrgyzstan14:30 Strong wind topples trees in Bishkek14:24 "Fuel purchase price grew by 10-12%:" Association of Oil Traders on impact of fuel crisis in Kazakhstan on Kyrgyzstan14:16 Prime Minister of Kyrgyzstan heads to Kazakhstan13:55 George Soros has given $18 billion to his pro-democracy foundation13:24 About 1000 teachers in Mongolia intend to go on hunder strike over low salaries13:07 Woman gives a name Sooronbai to one of her triplet babies13:02 President Atambayev: “U.S. doesn’t care about democracy in Kyrgyzstan, region, they need chaos and instability”
© AKIpress News Agency - 2001-2017. All rights reserved
Republication of any material is prohibited without a written agreement with AKIpress News Agency. Any citation must be accompanied by a hyperlink to akipress.com.
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)65-03-06