Patisserie Holdings reveals big jump in revenue

The company sells fine cakes, pastries and gateaux
  (Photo:  )

Patisserie Holdings has reported this morning that revenue is up 27.5% to £76.6m while its main trading café brand Patisserie Valerie is up 20%. 

The results for the AIM-listed operator to the year ending 30 September also saw adjusted EBITDA up 27.2% to £15.3m in “a pivotal year” for the group. Online sales have seen a 100% increase to £2.6m, while both 2013 and 2014 saw 19 sites open.

Revenue from Patisserie Valerie was £51.1m in 2014 compared to £42.4m in 2013 – an increase of 20%. Flour Power City, the single wholesale bakery site acquired in May last year is fully integrated into the group, with sales up from £2.4m to £2.6m. Revenue from the group’s other two trading brands Druckers (22 sites) and Baker & Spice (4 sites) grew from £16.1m in 2013 to £16.5m in 2014.

The group acquired premium sandwich retailer Philpotts in February this year, which added 23 stores to its portfolio. Patisserie Holdings now operates a total of 148 sites, including the new openings and Philpotts outlets, compared to 108 in 2013.

The first outlets in a motorway service station and retail park, as well as the first site in Wales opened this year and 20 more stores are targeted for 2015.

Luke Johnson, executive chairman, said: “I am pleased to report another excellent performance for Patisserie Holdings in what has been a pivotal year in the development of the group. The management team has delivered the eighth consecutive year of organic growth, acquired the Philpotts business and, in May, successfully listed the company on AIM.

“Each of our five differentiated brands continues to grow and, with the group’s strong cash generation funding, our future organic growth, we are looking forward to another exciting year in 2015.”

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