Patisserie Holdings has revealed turnover grew by almost a quarter to £49.5m during the last financial year.

The Birmingham-based business, which operates retail bakery businesses Patisserie Valerie, Druckers and Baker & Spice, revealed the news as part of its latest financial results for the year to 30 September 2012.

The group, positioned 14 on British Baker’s BB75 list of top retail bakery firms based on store count, also reported a 20.3% rise in ebitda to £9.6m, an increase in pre-tax profits of 28.3% to £5.9m, and a rise in operating profit of 23.7% to £6.7m.

As part of the financial update, the company said: “During the year, 18 new sites have opened and all are trading positively and are making good contributions to the group. Despite the current economic climate, the management remains optimistic about trading and currently the business is ahead of last year for the first three months to date.”

Patisserie Holdings added that its directors and looking to continue the group’s opening programme with a plan for the next financial year in line with the number of outlets opened during the last 12 months.

The company concluded: “It is hoped that 2013 will be a further year of growth, but at the same time we appreciate the difficult economic conditions. To date, four sites have opened since the year-end with trade in all being encouraging.”