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Patisserie Holdings revenues rise by 27.5% in 'pivotal' year

Patisserie Holdings has reported strong revenue growth in what it described as a pivotal year for the AIM listed group.

GENERAL MERCHANDISE

Patisserie Holdings revenues rise by 27.5% in 'pivotal' year

Patisserie Holdings has reported strong revenue growth in what it described as a pivotal year for the AIM listed group.

In the year to 30 September, revenue increased by 27.5% to £76.6 million while adjusted EBITDA rose by 27.2% to 15.3 million. Pre-tax profit climbed from £8.2 million to £10.4 million.

The group also recorded a 100% increase in online sales to £2.6 million.

Revenue from the group’s main trading brand, Patisserie Valerie, was £51.1 million compared to £42.4 million in the previous year. Revenue from its two other brands, Druckers and Baker & Spice, grew to £16.5 million from £16.1 million previously.

In February, Patisserie Holdings acquired the Philpotts chain which added 23 stores to the group. It also opened its first motorway service station and retail park stores in addition to a first store in Wales. By the end of the year, the group had a total of 148 stores with a further 20 openings planned for 2015.

The group said trading in the first six weeks of the year had been “good” and that the business was continuing to perform in line with management's expectations.

Luke Johnson, Patisserie Holdings 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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