Patisserie Holdings PLC profits grow 19.7%

The owner of Patisserie Valerie reported earning £71 million in gross profit according to its preliminary results for the 12 months ended 30 September 2015.

The company reported a successful launch of “create-a-cake” and afternoon tea which generated revenue of £0.8 million and £1.2 million respectively, and opened 26 new stores in the last 14 months. Revenues rose 20% to £91.9 million

Luke Johnson, Executive Chairman, said “We are pleased to announce another record year for the Group where we have delivered excellent financial results. We strengthened our team following our IPO on AIM and have seen the benefits this year with new ideas and products enhancing our brands’ reach. We are well positioned for future organic growth and acquisitions and I am particularly pleased to be able to announce our maiden dividend. Our pipeline for new stores is strong and I am confident of another successful year ahead.”