20 Things to Do in Your 20s to Build a Successful Career

20 Things to Do in Your 20s to Build a Successful Career Feeling the twenty-something blues? Before you hit quarter-life crisis mode, try crossing a few of these off your pre-30 bucket list. Here are 20 things to do in your 20s in order to make your future better while you’re still young enough to get a head start.1. GraduateNo matter what your education goals are- whether an associates degree, a bachelors degree, a masters, or a PhD- complete them. Put the formal education stage behind you and let it bolster you as you move forward in your life.2. Get a jobIt’s much more difficult to find steady work that you like enough to keep doing after a certain point. Get in the workforce while you’re still fresh talent.3. Quit your vicesSmoking, drinking, partying, drugs: these all seem like fun now, but their time is at an end. This is the age to stop and focus on reality.4. Save moneySaving now can pay off hugely in the long run. Only spend what you need to spend, and save the rest. Your future (home-owning and retired) self will thank you.5. Buy a houseSounds crazy, but can also set you up for a healthier financial life in the future.6. Stop being boy/girl crazyPut your focus into building your life and career. The love part will sort itself out without your devoting every spare possible moment to the pursuit of booty.7.  Try out your dreamBefore you have a ton of family obligations, now’s the time to pursue a job, or a hobby, or a new city you’ve always wanted to explore. You’re young, you have your whole life to settle down and be responsible. Follow your heart!8. TravelVisit at least one foreign country before the big Three Oh. See a new culture, a new world, a new way of life and let it make you a better, more interesting and widely experienced person.9. Change jobsNow is the stage in your career when you can hop from job to job and figure out what you really want to do and be, and which industry is best for you. This will get much harder to do later in life.10. Call your par entsDo it every other day at least. They won’t be around forever, and they took care of you your entire life. It’s their turn to be cared for.11. Keep your friends closeRelish the people in your life who value you. And be good to them. Love who loves you.12. Make meaningful friendshipsThe friends you have and make now are probably going to be your closest circle in your old age. Put the work in now while you have the time and energy.13. NetworkYou’re going to need to rely on your network all the time as you get older- both personally and professionally. Get building!14. Stay healthySleep, healthy eating, exercise, hygiene- these all may seem trivial now, but they are the mark of taking good care of yourself. Aka adulthood. Be kind to your body now and it will be kind to you when things start to fall apart with age.15. Aim highIf you aim for the stars and fall a little short, you’ll still land on the moon. Start small, but dream big.16.  Push the envelop eNow is the best time to innovate, to think outside the box, disturb the status quo, change minds and hearts!17. Be respectfulStart shoring up the good karma you’ll need later in life. Be kind, humble, and generous. Do as little harm as possible.18. Know your limitsAccept your weaknesses and what you cannot accomplish. However small your role, play it with dignity and aplomb.19. Read and writeThese things keep the mind sharp and the intellect afloat. Read every day and write as often as possible. Stimulate your brain and keep your creative juices flowing.20. Follow your blissFigure out what the purpose of your life will be, and then devote yourself to moving in that direction. Your mission: should you choose to accept it.

Nero Cafe Financials Essays

Nero Cafe Financials Essays Nero Cafe Financials Essay Nero Cafe Financials Essay THE BEST ESPRESSO THIS SIDE OF MILAN’ ANNUAL REPORT 2008 HIGHLIGHTS FY2008 (JUNE 2007 – MAY 2008) FINANCIAL EVOLUTION STORES 371 REVENUE (? M) 129. 3 108. 8 90. 7 FY08 GROWTH 19% 70. 1 50. 5 REVENUE UP 19% TO ? 129. 3M (2007: ? 108. 8M) LIKE-FOR-LIKE STORE SALES INCREASED BY 2. 4% EBITDA ROSE BY 20. 5% TO ? 24. 1M (2007: ? 20M) PRE TAX PROFIT CLIMBED BY 38% TO ? 13. 2M (2007: ? 9. M) STRONG CASH GENERATION CONTINUES TO FUND ROLL-OUT OF NEW STORES A NET INCREASE OF 61 NEW STORES DURING THE YEAR, BRINGING GROUP TOTAL TO 371 YEAR END LAUNCHED â€Å"NERO EXPRESS† CARTS FOR AIRPORT AND RAILWAY STATION HUBS: OPERATING WITH A TOTAL OF 15 NERO EXPRESS CARTS BY YEAR END (MAY 2008) ENTERED FIRST INTERNATIONAL MARKET TURKEY. OPENED 7 STORES BY YEAR END (MAY 2008) CURRENTLY 393 STORES IN 210 UK CITIES AND TOWNS; ANTICIPATE 410 STORES BY CURRENT YEAR END (MAY 2009) 04 05 06 262 FY08 GROWTH 20% 214 162 10 07 08 04 05 06 07 08 STORE PROFIT (? M) 32. 7 28. 3 FY08 GROWTH 16% 10. 6 23. 0 16. 8 FY08 GROWTH 20. 5% EBITDA (? M) 24. 1 20. 0 15. 6 11. 3 6. 5 04 05 06 07 08 04 05 06 07 08 PROFIT BEFORE TAX (? M) 13. 2 9. 6 FY08 GROWTH 38% 7. 3 5. 1* 2. 4 04 05 06 07 08 *BEFORE GOODWILL WRITE-OFF 01 05 08 09 10 12 FINANCIAL EVOLUTION CHAIRMAN’S STATEMENT GROUP INCOME STATEMENT GROUP BALANCE SHEET NOTES TO THE FINANCIAL STATEMENTS THE EXECUTIVE BOARD DIRECTORS ADVISERS 13 CAFFE NERO STORES FIGURES FOR 2004 ARE STATED UNDER UK GAAP AND PROFIT FIGURES ARE BEFORE GOODWILL AMORTISATION AND EXCEPTIONALS CAFFE NERO GROUP LTD ANNUAL REPORT 2008 FINANCIAL EVOLUTION 01 CAFFE NERO HAD THE WIT AND VISION TO WISELY CULTIVATE A MORE ENDURING, SOPHISTICATED EUROPEAN IMAGE SUNDAY HERALD 2008 02 03 CHAIRMAN’S STATEMENT INTRODUCTION The financial year 2008 (FY2008), for the Caffe Nero Group (â€Å"the Group† or â€Å"Caffe Nero†), was a year of launching into new business areas as well as expanding Caffe Nero’s core UK high street business. Despite a noticeable consumer slowdown from September 07 – May 08, Caffe Nero successfully launched a new division and format called Nero Express; opened in its first international territory – Turkey; progressed its UK expansion by moving into Northern Ireland; continued to rank as the top UK coffee house brand among its peers; and recorded a very solid financial performance. FINANCIAL During FY2008, the Group had success both with top line revenue and with bottom line profit. Although the surrounding economic environment in the UK was challenging, revenue still moved up by 19% to ? 129. 3m (2007: ? 108. m). Like for like store sales were a respectable 2. 4%, marking 44 consecutive quarters of positive like for like store growth at Caffe Nero. Cash flow profit (EBITDA) also progressed significantly despite substantial rises in costs. Commodity prices – wheat, milk, coffee and oil – along with minimum wage and various other ingredient costs, all rose in the period. Whilst this put pressure on our margin, Caffe Nero was still able to grow EBITDA by nearly 21% to ? 24. 1m (2007: ? 20m). Likewise, at the pre-tax profit line, respectable gains were made: pre-tax profit rose by 43% to ? 13. 7m (2007: ? 9. m), which was ahead of management expectations. A second major advancement in the year was to open in our first international territory Turkey. We launched Caffe Nero Turkey in October 2007, which entailed forming a separate JV company based in Istanbul, building a team, developing operational expertise, securing sites and constructing stores. We managed to do all of the above and open seven stores in the year. By the year end we had approximately 100 people in Caffe Nero Turkey. This was a great start for our fi rst overseas territory, and a tribute to the hard work and dedication by our local partners and Turkish management team. The third area of progress was with our core UK business. We opened 39 new stores in the year, including our first foray into Northern Ireland. In a two month period we launched three successful stores in the greater Belfast area, and then, more recently, have opened a fourth store in the same area. The management team has been very pleased by the early results from this new grouping of stores. In total, the Group opened 61 stores in the 12 months to May 08, taking Caffe Nero to 371 stores at year end. BRAND We were proud to note that the Group received accolades from its peers recently. Caffe Nero was ranked as the most respected coffee house brand in the United Kingdom by independent UK coffee operators (Allegra Strategies 2008 Independent Coffee Operators survey) in September 2008. Caffe Nero was also named one of the most respected brands in all of the UK Food and Beverage (F B) industry in a recent survey of several hundred F B executives. It ranked just behind Marks Spencer and Tesco and ahead of Pizza Express and Starbucks. The survey included all types of F B businesses, ranging from food retailers to restaurants and pub groups to food service companies to food manufacturers. Allegra Strategies, â€Å" Top of the Mind† F B executive survey November 2008). During FY2008, the Caffe Nero brand also continued its â€Å"Partnership with the Arts† programme. It promoted and sponsored the RSC’s celebration of 100 years of English history, the Tutankhamen exhibition at the O2 and the First Emperor exhibition at the British Museum. We have co ntinued this partnership at the beginning of FY2009 by sponsoring the Rothko exhibition at the Tate Modern. â€Å"HOT, STRONG AND DELICIOUS COFFEE† HARDEN`S LONDON RESTAURANT GUIDE 2008 Our cash position also remained strong. Despite opening more than 60 stores in the year, the cash position of the Group at the year end was similar to that of the year before, namely more than ? 9m of cash at hand. GROWTH The Group advanced in three key areas during FY2008. The first was the launch of a new sub-brand called Nero Express. Nero Express units are smaller kiosks located in main transport hubs. They provide Caffe Nero coffee and a narrower food menu to â€Å"on the go† consumers. Caffe Nero opened 15 Nero Express units in its first year of operation. Setting up a separate organisation and working out the logistical issues of operating in railway stations and airports was no small challenge. We are very pleased with all the progress that has been achieved in our first 12 months of operating this division, and look forward to growing and strengthening our Nero Express business both in the UK and internationally. CAFFE NERO GROUP LTD ANNUAL REPORT 2008 CHAIRMAN’S STATEMENT 04 05 CHAIRMAN’S STATEMENT (CONTINUED) CURRENT TRADING The current economic climate remains challenging for most UK retailers. Costs have been increasing over the last 12 months, particularly hitting food and beverage operators, and consumer spending has also been slumping. There is evidence emerging, however, that cost inflation is abating in some key areas such as oil, heat and light, wheat and milk, which will help our margin in the coming months. To date, Caffe Nero has handled the turbulent times relatively well. We opened 22 new stores between June and October (the first five months of FY 2009), giving the Group a total of 393 stores. This total includes 11 stores in Turkey and 16 Nero Express kiosks. Caffe Nero also maintained its positive like for like store sales growth from June – October 08, and sales overall grew by 15%. The consumer environment looks set to remain challenging and will likely soften even further in the coming months. That said, a recent independent report by Allegra Strategies has indicated that the branded coffee market is forecast to continue to experience 6% annual growth. Caffe Nero’s strong brand and low price point, with an average transaction spend of ? 3. 40, will undoubtedly help to mitigate some of the predicted downturn as consumers refuse to relinquish their â€Å"affordable treat† in gourmet coffee. Whilst we anticipate that the second half of the year (Dec – May 2009) will be more challenging for our business than the first half, we remain committed to a measured expansion plan. During this period, we will also focus on our existing estate, with an emphasis on driving marginal revenue, maximising profit and preserving cash. In December we will open our first Middle East store in the Dubai Mall, the world’s largest inside shopping complex. At least two more stores in Dubai will follow shortly thereafter. We also anticipate adding two or three more stores in Turkey by the year end. Regarding the UK market, we will carry on opening stores at a steady pace. In total, we anticipate opening more than 35 stores in the year and remain confident of achieving double-digit sales growth. UK COFFEE OPERATORS RANK CAFFE NERO AS MOST RESPECTED COFFEE BRAND ALLEGRA STRATEGIES, INDUSTRY SURVEY ON COFFEE 2008 GERRY FORD CHAIRMAN CHIEF EXECUTIVE 24 November 2008 06 07 GROUP INCOME STATEMENT FOR THE YEAR ENDED 31 MAY 2008 GROUP BALANCE SHEET FOR THE YEAR ENDED 31 MAY 2008 Notes 2008 ? 000 2007 ? 000 Notes 2008 ? 000 2007 ? 000 Revenue Cost of sales Gross profit Administrative expenses excluding depreciation, amortisation and impairment and exceptional items Earnings before interest, tax, depreciation, amortisation, impairment and exceptional items Administrative expenses – depreciation, amortisation and impairment Operating profit before exceptional items Administrative expenses – exceptional item Total administrative expenses Operating profit Bank interest receivable Finance expense Profit before taxation Tax on profit on ordinary activities Profit attributable to equity holders of the parent (2) 129,307 (96,591) 32,716 (8,660) 108,819 (80,488) 28,331 (8,290) Non-current assets Goodwill Software Property, plant and equipment Lease premiums Other receivables 831 92 53,019 2,240 1,040 57,222 Current assets Inventories Lease premiums Other receivables Cash and cash equivalents 1,058 543 5,490 9,580 16,671 Total assets Current liabilities Trade and other payables Provisions (24,388) (24,388) Non-current liabilities Provisions Total liabilities Net assets Equity Called up share capital Share premium account Capital redemption reserve Options tax reserve Other reserve Retained earnings Shareholders’ equity 389 13,385 15 – 6,249 29,411 49,449 389 13,385 15 – 6,249 16,182 36,220 (56) (24,444) 49,449 (63) (29,631) 36,220 (29,463) (105) (29,568) 73,893 872 363 1,721 10,399 13,355 65,851 831 125 48,697 2,561 282 52,496 4,056 (11,154) 12,902 (19,814) 12,902 327 13,229 13,229 20,041 (8,894) 11,147 (1,249) (18,433) 9,898 423 (762) 9,559 (5,116) 4,443 08 CAFFE NERO GROUP LTD ANNUAL REPORT 2008 GROUP INCOME STATEMENT CAFFE NERO GROUP LTD ANNUAL REPORT 2008 GROUP BALANCE SHEET 09 NOTES TO THE FINANCIAL STATEMENTS AT 31 MAY 2008 2. TAXATION a) Analysis of tax charge in the year Current tax Deferred tax Income tax expense reported on consolidated income statement 2008 ? 000 2007 ? 000 – – 5,585 (469) 5,116 b) Reconciliation of total tax charge The tax assessed for the year differs from the avarage standard rate of corporation tax in the UK of 29. 67% (2007 – 30%). 2008 The differences are explained below: ? 00 Profit on ordinary activities before tax Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 29. 67% (2007 – 30%) Effect of: Expenses not deductible for tax purposes Movement in deferred tax asset not recognised Group relief Adjustment for prior year deferred tax Reversal of deferred tax previously recognised Income tax expense reported on consolidated income statement 13,229 3,925 856 2,135 (6,916) – – – 2007 ? 000 9,559 2,868 1,045 – 169 (10) 1,382 5,116 c) Deferred tax Deferred tax recognised in the financial s tatements and the amounts not recognised are as follows: 2008 Recognised Not recognised ? 000 ? 000 2007 Recognised Not recognised ? 000 ? 000 Decelerated/(accelerated) capital allowances Other timing differences Tax losses Deferred tax asset – – – – 2,369 193 139 2,701 – – – – 1. 087 299 149 1,535 CAFFE NERO IS STILL ONE OF THE FASTEST GROWING BRANDS IN EUROPE BUSINESS WEEK MAGAZINE EURO 500 2008 Deferred tax assets are recognised once it is considered more likely than not that they will be recoverable against future taxable trading profits arising in the group. 3. AUDITED ACCOUNTS The income statement and balance sheet extracted from the statutory financial statements for Caffe Nero Group Limited. Full accounts are available from 3 Neal Street, London WC2H 9PU. The financial information provided is not inclusive of Caffe Nero Turkey. 10 CAFFE NERO GROUP LTD ANNUAL REPORT 2008 NOTES TO THE FINANCIAL STATEMENTS 11 THE EXECUTIVE BOARD DIRECTORS ADVISERS CAFFE NERO STORES BEBEK FLAGSHIP STORE IN ISTANBUL, TURKEY GERRY FORD CHAIRMAN AND CHIEF EXECUTIVE Dr Ford oversees the general management, strategy, and branding of Caffe Nero. Dr Ford first developed his European coffee house concept in 1996. The concept was applied to the five original sites acquired in 1997, and the brand has subsequently been rolled-out throughout the UK. Dr Ford holds a BA from Stanford, an MBA from INSEAD and a PhD from Oxford. He has over 20 years experience managing, advising and investing in small and medium sized consumer goods companies. He also co-founded Paladin, a private equity group which invests in food, consumer brands, and media businesses. In 2005, Dr Ford was named â€Å"UK Entrepreneur of the Year† by the Financial Times, London Stock Exchange and the British public. BEN PRICE FINANCE DIRECTOR Mr Price oversees all financial aspects of the group as well as site acquisitions in the UK. Mr Price has a physics degree from Oxford and qualified as an accountant with Ernst Young, where he worked for five years in the audit practice. Since then he has had over 15 years of senior finance management experience in the retail sector. For three years he was at Dixons, where he became one of the senior finance managers reporting directly to the Group Finance Director. He then served as the finance controller of a furniture retailer before joining Caffe Nero in June 1997 as part of Dr Ford’s original management team. JONATHAN HART MANAGING DIRECTOR, UNITED KINGDOM Mr Hart is responsible for the growth and general management of the day-to-day operation of the UK business. He has over 20 years of retail experience with a number of major-brand companies including Tesco, Woolworths and Dixons, where he was responsible for creating and growing a number of its businesses including The Link, Dixons Tax-Free and international e-commerce. At Dixons he became a member of the Group Executive Committee reporting to the Group CEO and responsible for all of the Group’s high street formats with a turnover exceeding ? 1 billion. ISIK KECECI ASUR MANAGING DIRECTOR, CAFFE NERO TURKEY Ms Asur heads the Caffe Nero Turkish joint venture, and along with her husband, Mustafa Asur, holds a 50% investment stake. Ms Asur has over 20 years management experience in media and branded consumer goods. As Director of corporate development for Bertelsmann AG New York, Ms Asur successfully led several MA projects, later becoming a board member for the largest media conglomerate in Turkey – Dogan Holding. In 2001, she founded Al Shaya Turkey, a multi-brand retail operation including Starbucks, The Body Shop and Debenhams. A graduate of Harvard Business School, Ms Asur was named as the CEO of the most admired company in Turkey in 2004 by the Capital magazine poll and a Global Leader by the Economic Forum in 2005. DIRECTORS G W Ford B J Price J D Hart I K Asur (Turkey) SECRETARY B J Price AUDITORS Ernst Young LLP 1 More London Place London SE1 2AF BANKERS Bank of Scotland The Mound Edinburgh EH1 1YZ SOLICITORS PWC Legal 1 Embankment Place London WC2N 6DX Linklaters 1 Silk Street London EC2Y 8HQ REGISTERED OFFICE 3 Neal Street London WC2H 9PU COMPANY NUMBER 4129005 HEATHROW T5 AIRPORT STORE NERO EXPRESS KIOSK 12 CAFFE NERO GROUP LTD ANNUAL REPORT 2008 THE EXECUTIVE BOARD DIRECTORS ADVISERS CAFFE NERO GROUP LTD ANNUAL REPORT 2008 CAFFE NERO STORES 13 CAFFE NERO GROUP LTD 3 NEAL STREET LONDON WC2H 9PU WWW. CAFFENERO. COM Manufactured from 100% Virgin ECF Fibre. Fully recyclable and manufactured from environmentally approved 100% ECF wood-pulp in mills with excellent environmental records. ISO14001 Accreditation    Designed by hattrick marketing 0870 609 3216 www. hattrickmarketing. com