The costs of establishing Starbucks and Domino’s in SA caused Taste Holdings’ interim loss to widen. The aftertax loss grew 16% to R34.4m during the six months to end-August, the franchisor reported on Wednesday morning, from the previous matching period’s R29.7m. Interim revenue grew 9% to R529m. Taste launched US coffee chain Starbucks in April, and its first two South African stores contributed R18m revenue during the reporting period. "All three trading stores are trading well ahead of our original investment cases and forecasts," CEO Carlo Gonzaga said in the results statement. "The Starbucks launch has been lauded by Starbucks around the globe and, as South Africans, we can proudly say that we have already set some records within this globally admired brand."
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