Pret bullish as it reports 15% sales increase

Pret A Manger has reported a 15% rise in sales as it continues to expand across the UK.

Published in its financial results for the 52 weeks to 2 January 2014, the high street chain saw sales hit £510m, while underlying profit rose 9% to £67m.

During 2013, Pret also extended its UK and international reach by opening 40 shops, 26 in the UK, creating 600 jobs worldwide.

In a statement, the business said it was continuing to expand its presence in regional towns, with shops that offer an extended organic coffee range and more spacious seating areas.

Pret added that following a successful refinancing in 2013, which saw the chain reduce interest costs and secure new capital for expansion, it was well placed to implement its strategy of controlled expansion across the UK and globally.

Clive Schlee, chief executive, said: “2013 was another successful year for Pret. We delivered healthy sales and profit growth, opened new shops and created over 600 new jobs. Our charity work remains an important part of our business, and the Pret Foundation Trust raised a record £1.2 million for homeless charities in 2013.”

Pret concluded that, with improving consumer sentiment, it is confident about its prospects for 2014.

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