The Nero Group posts £537m in sales for FY2024

Caffè Nero UK increased its sales by 10% to £333m.

The Nero Group reported sales of £537m ($680m) for the financial year ending 31 May 2024 (FY 2024).

The Caffè Nero UK business increased its sales by 10% to £333m from £302m in FY 2023, with UK EBITDA reaching £38.5m, up 17% in FY 2024.

In the same financial year, the delivery business in the UK experienced a growth of 17.5% year-on-year, and the Coffee at Home business's (packaged coffee) sales increased by 65% to £4.8m, including in-store sales of its coffee at home products of £2.4m.

The Caffè Nero UK business also saw a 14% increase in iced drinks sales which resulted from the expansion of the “Coffee over Ice” menu range, led by the popularity of the Pistachio Iced Latte product.

The UK business also benefitted from a strong promotional calendar, including the autumn Amaretto Latte, the high-performing Christmas menu, and the introduction of the Honey Oat Latte.

For FY 2025, The Nero Group has had record results in the first 8 months of the year, with like-for-like sales up 7.4% and overall sales rising by 13%.

The group has also increased its store count by 71 stores in the year thus far and now has 324 stores outside the UK.

The Nero Group currently operates 1,122 stores across 11 countries with more than 11,000 employees.

(£1 = US$1.27)