The Nero Group, owner of Caffè Nero and five other British coffee brands, has reported record sales of £670 million for the financial year ended 31 May 2026 — its third record year in a row. Total sales rose 8%, while like-for-like sales were up 4.1%.
The number that matters most to the tea trade sits in the UK figures: iced drinks grew 52% there, with matcha singled out as a significant contributor. Caffè Nero's UK like-for-like sales rose 4.5% over the same period.
The group opened 72 new sites during the year, 16 of them acquired with Washington D.C. chain Compass Coffee, taking the estate to 1,191 stores across 11 countries. Founder Gerry Ford said the business had kept growing ahead of the market despite a difficult trading climate. The read-across for tea is hard to miss: powdered green tea has moved from speciality curiosity to a genuine sales engine on the high street.
Source: World Coffee Portal