17th March, 2014

Patisserie Valerie Surges ahead with Another Strong Year

Patisserie Holdings, the UK’s largest patisserie café group with 137 stores nationwide and the owner of the iconic Patisserie Valerie continental café chain, today announces results for the financial year ended 30th September 2013.

Total revenues rose by 21% to £60m and EBITDA* grew 24% to £12.3m.  During the year the group opened 19 new stores across the country, including in Glasgow, Derby and a number of London train stations. The group successfully opened its first brasserie in August and now trades from a versatile mix of high-street stores, kiosks, brasseries and concessions.

Patisserie Holdings is anticipating another year of strong growth in 2014. It has already opened seven stores to date – including in Cheltenham and Exeter – and these are trading strongly. The group has a strong pipeline of further sites to support its continued opening programme in the coming months.

Today’s results announcement follows the recent acquisition of Philpotts Ltd, an independent premium sandwich and salad retailer with 23 shops throughout the UK. Philpotts (www.philpotts.co.uk) serves a wide variety of fresh, handmade sandwiches, salads and hot dishes with a focus on the corporate lunchtime trade.

The acquisition adds another strong brand to the Patisserie Holdings family,  which includes the well-established Patisserie Valerie, Druckers, Baker & Spice and Flour Power City Bakery brands, all of which offer good value snacks and meals throughout the day.  It takes the number of staff across the group to 2,800 and the number of stores to 137.

Chief Executive Paul May said, “We have delivered an exceptional year of growth against the backdrop of a recovering UK economy. By focussing on the quality of our ingredients and produce, the professionalism of our staff and the strength of our network of locations across the five brands, we have grown our loyal customer base and continued to deliver affordable treats to all. We intend to open more new sites in the year ahead, including in Lakeside Shopping Centre and Shrewsbury which are due to open in the coming weeks.”

Chairman Luke Johnson said: “I am delighted by the efforts and achievements of Paul and his talented team over the last year. The business is going from strength to strength and this year we will redouble our efforts to ensure that every visit to each one of our many branches is a special experience.”

Patisserie Holdings is expected to create over 450 new jobs in the coming year by investing in new patisseries around the country.