Patisserie Holdings, the company behind a host of high street chains, has delivered another “record” year after its underlying profit increased by 22% to £18.8m.
Unveiling its full year results, the UK’s largest patisserie café chain with 166 stores, including Baker & Spice, the sandwich chain Philpotts, and luxury cake and café operator Patisserie Valerie, saw group revenue also grow by 20% to £91.9m.
The successful launch of 26 new stores and initiatives including create-a-cake and afternoon tea (which have generated £0.8m and £1.2m of revenue respectively) have contributed to the group’s continued success, it said.
Pre-tax profit of £14.6m, was up 29.2% on the previous year.
Executive chairman Luke Johnson said: “We are pleased to announce another record year for the group where we have delivered excellent financial results.”
Johnson said that 20 new stores are targeted for the next financial year, and the rollout of the Baker and Spice brand is imminent.
“We are well positioned for future organic growth and acquisitions and I am particularly pleased to be able to announce our maiden dividend. Our pipeline for new stores is strong and I am confident of another successful year ahead."
The group’s brands also include wholesale artisan bakery Flour Power City and Druckers Vienna Patisserie.