Patisserie Holdings’ preliminary results for the 12 months to end of September, show revenue up 9.7% to £114.2m and online sales up 26% to £4.8m (2016: £3.8m)
The UK branded café and casual dining group also revealed a gross profit of £89.3m up by 9.8% and a gross margin of 78.2% (2016: 78.1%)
The company reported strong growth in pre-tax profit to £20.2m up 17.1%, with diluted earnings per share of 16.20p up 19.1% (from 13.60p per share in 2016).
The group proposed a final dividend of 2.40p per share, up 20% (2016: 2p per share).
The company opened 20 stores in the year including stores in 12 new geographical locations. Expansion outside of England continues with two stores opened in Republic of Ireland, a second store opened in Northern Ireland and two new stores in Scotland
All new stores were profitable from first day of trading and funded from operating cash flows. In total, the company was trading from 199 stores at end of year.
Commenting on the results, Luke Johnson, Executive Chairman, said: "We opened 20 new stores many of which are performing ahead of expectations, and the performance of our new bakeries in the Republic of Ireland is encouraging.
“Our indulgent, affordable treats remain attractive to customers, and our flexible business model has enabled us to mitigate inflationary cost pressures. With a highly cash generative group, strong brands and a focused management team I remain confident of another year of growth and achievement.”