▲ Up
 
09:09 03-03-2015
MAIN Russian
About us On-line subscription
KazakhstanTajikistanUzbekistanKyrgyzstanTurkmenistanWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
Starbucks sales drop down for the first time in 16 years

Bishkek (AKIpress) - 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.


Twitterfacebookprint
15:13 25.04.2014
LATEST NEWS
18:19 Head of Kyrgyzpochtasy Batken branch kills employee18:00 Education Ministry most corrupt body – MP Kalmatov17:29 Kazakhstan, Iran naval forces to strengthen cooperation17:19 Bishkek students to hold flashmob dedicated to state flag day16:53 6,000 have died in eastern Ukraine in less than a year, UN says16:47 President of Uzbekistan approves enhanced cooperation deal with Russia16:32 Fair count of votes in Tajikistan parliament elections could not be guaranteed: OSCE16:30 Uzbekistan attracts German investments worth $2.8 billion16:12 Native of Kyrgyzstan Shevchenko wins ММА Legacy Fighting Championship in the U.S.15:52 5 medical institutions to receive medical equipment from Japanese Government15:47 Parliamentary committee approves additional funding of Bishkek-Naryn-Torugart project worth $15.1 million15:42 Thailand interested in increasing Thai tourists flow to Kazakhstan15:41 Central library in Bishkek honors 90th anniversary of Women's Movement of Kyrgyzstan15:38 Bishkek hosts Night Landscape workshop on scratchboard painting technique15:31 Research shows that every 6th 14yo girl has sex life, Raisa Atambayeva says15:19 2 women detained in Osh for opening casino15:14 Berdimuhamedov to visit Turkey for signing package of deals15:12 Astana invites ODIHR, OSCE PA to observe early president elections15:10 Сhampionship on mini-football among women teams starts in Bishkek15:01 3,000 people refuse to receive vaccination against measles due to religious beliefs in Chui region
Astana
-3° C
Ashgabat
+13° C
Bishkek
+11° C
Dushanbe
+8° C
Tashkent
+13° C
exchange rates
 
68.74
61.29
9.78
1.00
207.61
185.05
29.52
3.03
6.14
5.44
0.87
0.09
2774.81
2448.16
391.76
37.07
3.92
3.50
0.56
0.06

© AKIpress News Agency - 2001-2015. 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 www.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