RNS Number:2765S
Madisons Coffee PLC
20 November 2003


Date  20 November 2003



Contacts     Gareth Lloyd-Jones, Chief Executive
             Madisons Coffee plc                         Tel: 020 8394 5555

             John Bick, Trevor Phillips
             Holborn                                     Tel: 020 7929 5599



                              MADISONS COFFEE PLC

                                AGM Statement


Chairman's AGM Statement

At the Annual General Meeting of the Company, to be held today, Nigel Whittaker,
Chairman, will update shareholders with the following statement:

"I am pleased with the progress in the Group's financial performance for the
year to June 2003.  Despite a challenging economic environment experienced by
our sector, the Group was cash positive for the first time since flotation.

Turnover for the 52-week period ended 29 June 2003 declined as anticipated,
reflecting the planned reduction in trading locations for our coffee bar
business. Critically, however, like-for-like sales, the best measure of trading
success, were positive over the period.  At the same time as driving
like-for-like growth, the management team has continued to manage the cost base
very prudently, and the combination has resulted in a 35 per cent reduction in
the loss before tax over the previous year.

Since the year-end the financial performance of the Group has continued to
improve as a result of the introduction of further operational efficiencies in
Madisons coffee bars and Richoux restaurants.  We are currently trading ahead of
market expectations.

Your Board will continue to focus its efforts on improving the financial
performance of the Group and delivering changes designed to improve long term
value to our shareholders."


Nigel Whittaker
Chairman


                      This information is provided by RNS
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