How much profit did Starbucks make in UK?

Starbucks UK Coffee Company (in GBP): Total revenues: £243m, down 32.7%; £113m reduction in revenue due to store closures and restrictions as a result of the pandemic. Gross profit £32m, down 53.7%, impacted by labour costs remaining broadly neutral. Loss on Ordinary Activities before tax: £41m, increase of 83% from …

How much tax did Starbucks pay in UK?

Starbucks’s UK arm paid £1.9m in UK corporation tax in the 2019 tax year, and £4m in 2018. The company said the losses were down to lockdown restrictions. Starbucks was forced to suspend trading, although it did not furlough any of its 4,300 workers or opt to use any government support.

How much tax did Starbucks pay in the UK last year?

Starbucks’ UK-based European business paid just £18.3m in tax last year, while paying the coffee giant’s parent company in Seattle £348m in dividends collected from licensing its brand.

What was profit before tax for Starbucks UK?

Despite a reduction in Administrative expenses, Operating profit for Starbucks UK declined to £0.7m from £6.4m in the prior period. This decline was offset in part through profit on disposals of equity stores of £3.7m, boosting Profit before tax to £4.5m for the period vs £13.4m in 2016.

How much money does Starbucks make a year?

Starbucks may be complaining of “global headwinds” but that did not stop the world’s biggest coffee chain from reporting record annual profits. It made an operating income of almost $4.2bn (£3.4bn) for the year to 2 October, up 16% on the previous year.

What was like for like sales for Starbucks in 2017?

Despite ongoing trading conditions and reduced retail traffic in the UK market, like-for-like sales improved in 2017, with sales up 1.2% compared to 2016.

Who is the Managing Director of Starbucks UK?

Kris Engskov, managing director of Starbucks UK, said he was surprised by the public outcry at the company’s use of complex tax arrangements and vowed to make the payments to HM Revenue and Customs for two years even if the coffee chain failed to make a profit.