Tea and coffee retailer Whittard of Chelsea served up a treat for investors after halving pre-tax losses.
Shares in the group rose six per cent as chief executive Richard Rose said his recovery programme was on track.
Mr Rose, who joined the company in August, has focused on the group's core tea and coffee products and upped the margin.
Figures showed like-for-like sales at the chain were up 7.7 per cent in the past eight weeks. Results for the first half to November 25 also reflected the improvement with pre-tax losses down 50 per cent at £845,000. Overall sales were up from £15.5m to £15.7m.
Whittard's stores, including two in Oxford, saw transaction value and footfall rise. Mr Rose said: "All but three of our 101 shops are making a positive contribution."
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