▲ Up
04:18 24-06-2017
АКИpress CA-News Tazabek Turmush
Starbucks sales drop down for the first time in 16 years
15:13, 25 April 2014, 703

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
17:39 Choi Soon-sil: South Korean ex-president's friend jailed17:04 Saudi Arabia won't finance construction of Parliament building in Dushanbe16:42 Life in rural Kyrgyzstan: Batken resident repairs 2.5 km of road at his own expense16:29 Uzbekistan, EBRD agree on rehabilitation of uranium mines16:08 Atambayev arrives in Tatarstan15:57 Atambayev to suggest creating research groups on studying Kyrgyz language in Khakassia and Altai15:52 Sending Kyrgyz troops to Syria not discussed during Atambayev's visit to Russia - FM15:26 Wind blows away roofs of houses, cars hit by fallen trees in Bishkek15:09 President Atambayev attends concert devoted to Days of Kyrgyz Culture in Ufa14:52 Turkey rejects call to shut military base in Qatar14:46 Kyrgyzstan ranked 65 in world prison ranking14:38 Cholpon-Ata hosts meeting on protection of consumer rights and regulation of advertising activities among CIS countries14:19 Fiscal authorities don’t provide access to bank secrecy for law enforcement agencies, General Prosecutor’s Office says14:08 State Committee for Industry, Energy and Mining launches tender process for small HPPs in Kyrgyzstan13:53 Qatar row: Arab states send list of steep demands13:52 300,000 people visit EXPO so far: Chairman of Board13:04 Atambayev presented first edition of Manas epic in Bashkir language12:50 Government offers to extend stay of foreigners in Kyrgyzstan up to 15 days12:23 Suicide car bomber kills at least seven in Pakistan's Quetta: police12:19 9 killed as bus overturned in Kazakhstan
© 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)90-07-75