New stores lift Starbucks profits

Starbucks opened 728 new stores worldwide during the quarter

Starbucks saw its profits climb 18% in the last three months of 2006, boosted by opening more than eight new stores per day around the world.

The world's largest coffee chain made a net profit of $205m (£104m) during the period, its fiscal first quarter, up from $174m a year earlier.

Starbucks' net revenue for the quarter was $2.35bn, a 24% increase on the $1.9bn the year before.

Sales at stores open for a year or more rose 6% during the three months.

The results met market expectations.

Starbucks said it opened a record 728 new outlets during the quarter.