15th May 2018 11:23
LONDON (Alliance News) - Patisserie Holdings PLC said Tuesday its first-half pretax profit grew 14% due to a good Christmas build-up and strong sales of a chocolate festive treat.
For the six months ended March 31, the cafe and casual dining group reported a pretax profit of GBP11.1 million, up 14% from GBP9.7 million year-on-year. Revenue grew 9% to GBP60.5 million from GBP55.5 million in the same period a year ago.
The group's largest brand, Patisserie Valerie, generated a total revenue of GBP45.8 million in the half-year.
Patisserie Holdings declared an interim dividend of 1.44 pence per share, up 20% on last year's 1.20p.
The company is trading from 206 stores, with 10 new openings in the past half-year.
Earnings before interest, tax, depreciation and amortisation for the period were GBP13.6 million an increase of 12% on last year's GBP12.2 million.
"The period started well with a good build-up to Christmas with our new festive range, including the limited edition Reindeer slice, selling well," Chief Executive Officer Paul May said.
"Sales were slightly hampered by the adverse weather conditions. However thanks to our vertically integrated supply chain and the flexibility of our workforce we were able to limit the impact on profit. We finished the period strongly with a record Mother's Day weekend and a good lead-up to Easter."
Current trading is in line with the board's expectations and three new stores are set to open during the second half.
Shares in Patisseries Holdings were trading at 432.00p, down 0.2%, on Tuesday.
Related Shares:
Patisserie Holdings Plc