Turnover at French bakery and café Paul is up 17% in its results for the year ended 31 December 2015, and group turnover increased to £28.7m.
Ebitda at the 34-strong French bakery and café brand is up 49% on the previous year, while revenue is up 6.3% on a like-for-like (LFL) basis.
Jean-Michel Orieux, chief executive of Paul UK, said: “We are delighted with this extremely strong performance. The improvements and controls put in place from mid-2013 have continued to deliver a better trading result for Paul.
“Our like-for-like revenue growth of 6.3% is above market trading and we continue to expand, meeting our target of three stores this year.”
He went on to talk about the impact of the new national living wage (NLW) on the company: “Our early adoption of the NLW shows our commitment to the team, whose hard work and passion for artisanal bread and delivering a premium product is evident in our results.”
The company has opened four new bakeries, and the brand’s second restaurant format, Le Restaurant de Paul, also opened on the ground floor of the famous Tower 42 skyscraper in London.
Three bakeries and nine refurbishments are planned for 2016.
This month, Paul launched a new éclair range called Eclectic Éclairs: The Summer Collection.