Pieminister, the luxury pie manufacturer and restaurant chain, has reported profits of £99,000 for the 12 months to 31 March 2015, reversing the previous year’s loss of £109,000.
Sales revenues also grew 21%, from £7.6m to £9.2m, which the company attributed to focusing on the fast-casual dining sector and investment in its own retail outlets.
The report came with an announcement the company would open at least five restaurants in 2016, including in Nottingham and Bristol.
Pieminister has also seen an expansion in the number of supermarkets stocking its retail products, with lines now in Whole Foods Market, Booths, Sainsbury’s, The Co-operative, Sainsbury’s, Tesco, Ocado and Waitrose.
Jon Simon, founder and managing director of Pieminister, said: “We are very excited about the return to growth and profitability following our strategic decision to return to our roots as a unique restaurant proposition. The offer has developed significantly over the past 12 months and, as a result, we have seen impressive growth in like-for-like and top line sales. Our new sites have delivered well above our expectations and the feedback from our customers has been very encouraging.
“2016 will be a very exciting year for us with the opening of at least five new restaurants. In a very competitive sector we feel that we have developed a concept that is truly unique and have built a strong foundation with our operational team and systems to deliver strong and sustainable growth over the coming years.”