Ebitda up 23% at Patisserie Holdings

Patisserie Valerie, bakery, cakes
Patisserie Valerie has seen financial growth in the past six months
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Underlying profit increased by 23.1% to £8.7m at Patisserie Holdings in the six months to 31 March 2015.

The company, which runs high-end cake and café operator Patisserie Valerie, plus the sandwich chain Philpotts, said it now had 156 stores and had opened 10 new sites during the period, which have been funded from operational cash flow.

Group revenue was up by 22.2% to £43.7m and gross profit had grown by 22% to £33.7m. Its pre-tax profit for the period was £7m, a hike of 45% on the previous year.

Luke Johnson, executive chairman, said: “We have delivered another strong set of results in the first half of 2015. Sales across all of the different formats in the group continue to perform well and our brand awareness continues to grow.

“We have opened 10 new stores since the beginning of the year and trialled several new product launches, such as afternoon tea, all with pleasing results. The group is well placed for a successful second half of the year and beyond.”

The group also operates Druckers Vienna Patisserie, Baker & Spice and Flower Power City Bakery.

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