By Jonathan Davies

The boss of Starbucks has hailed the coffee giant's strongest ever quarterly revenues after an 18% rise.

Howard Schultz described the performance as "among the strongest and most remarkable quarters in our over 23 years as a public company".

Sales were up 18% to $4.9 billion in the three months to the end of June. Like-for-like sales, which exclude new stores, were up 7%. But Starbucks opened 431 new stores during the three months and a big portion of the rise came as a result of buying its old previous Starbucks Japan.

The coffee giant also reported a 22% rise in profits to $626.7m.

The increased sales mean that Starbucks served more than 23 million customers during the period, 18 million of which were in the US.