Artisan bakery chain Paul UK has revealed EBITDA has climbed 19.2% to £4.3m for the year ended 31 December 2014.
Revenue at the 32-strong French bakery and café brand was up 13.7% on a like-for-like basis and group turnover grew 3.6% to £24.6m.
In the period, three new stores opened: a kiosk in Canary Wharf; the first site outside London in Oxford; and the brand’s first restaurant format, Restaurant De Paul in Covent Garden. A bakery in Newbury also opened in March this year with further sites to open at Tower of London, Marble Arch and Birmingham later on this year.
A second restaurant concept will open this year as Restaurant De Paul at Tower 42 in the City featuring an enhanced retail offer alongside an all-day French restaurant and wine bar, while a refurbishment programme is underway to improve design and layout.
Jean-Michel Orieux, chief executive, said: “We are delighted that trading has exceeded expectations. The improvements and controls put in place from mid-2013 have enhanced our results and produced a solid platform to enable the brand to step-up its expansion programme.
"Our like-for-like revenue growing by 13.7% demonstrates that our commitment to baking artisanal bread using premium ingredients and traditional techniques, without additives or preservatives, is appreciated by an increasing number of customers.”
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