PAUL turnover up 17% for 2015
The French bakery and café brand announced its financial results for the year ended 31 December 2015.
According to the results, Group Turnover was recorded at £28.7m (2013: £24.6m), up 17%, while Group EBITDA (before head office costs & management fees) was up +49% on previous year. Revenue rose 6.3% on a like-for-like basis.
Four new bakeries opened: in Newbury, Three Quays (adjacent to the Tower of London), Marble Arch and Birmingham’s Grand Central Development. A further three bakeries are planned for 2016
Jean-Michel Orieux, CEO 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. Our early adoption of the Living Wage shows our commitment to the team, whose hard work and passion for artisanal bread and delivering a premium product is evident in our results."
