American entrepreneur Gerry Ford, founder and chairman of Italian coffee company Caffe Nero, has served up the opening of its 200th UK store, representing the half-way mark for his ambitious expansion plans. Ford's latest 'European style coffee house' is in Cambridge, Caffe Nero's third in the city.

Ford believes his outfit has 'around 11 per cent of a growth market that is already consolidated', and the group's £3.3 million cash (and £3.5 million facility) 'will help us grow even faster'. New stores are opening round the UK at a rate of one a week.

The Cambridge milestone comes hot on the heels of a 118 per cent interim profits surge to a record £2.14 million on a 40 per cent sales hike to £32.8 million. Ford, who argues the coffee shop is replacing the pub as a social meeting spot, says punters 'have really warmed to our unique European-style experience'.