Costa Coffee owner Whitbread has revealed a further slowdown in sales growth at its coffee shops, but hopes that the so called "third wave" of coffee consumption will help it bounce back.
The group said like-for-like Costa sales grew by 0.6 per cent in the six months to August 31, down from 2.3 per cent growth in the same period last year.
Pre-tax profit at Costa fell 9.8 per cent in the period to £59 million, on revenue of £622 million.
But Whitbread as a whole saw revenue rise 7.4 per cent to £1.67 billion, while total statutory pre-tax profit rose 19.9 per cent to £316 million.
The company saw a stronger performance in its Premier Inn hotel chain, where comparable sales rose 3.6 per cent.
The hotel arm booked a 26.5 per cent rise in pre-tax profits to £295 million as revenue topped £1 billion.
