| UK

Patisserie Valerie eyes 20 new stores after strong half-year results

Bakery and coffee chain’s pre-tax profits grew 14.2% in the six months to March 31 to £11.1m despite cold winter weather
A statement from Patisserie Holdings, which also manages the Druckers, Baker & Spice and Philpotts brands, revealed the UK’s third-largest food focussed operator opened 10 new stores during the period to make a total of 206.

“The group has delivered a strong set of results in a sector which has well-documented challenges,” said Patisserie Holdings Executive Chairman, Luke Johnson.

“We remain focused on organic growth and with a strong balance sheet continue to assess acquisition opportunities which will have a strategic and cultural fit,” he added.

The results are a continuation of Patisserie Valerie’s strong 2017 performance, which saw sales growth of 13.3%.

20 new sites are planned over the next 12 months, with branches in Lancaster, Battersea and Belfast Forestside due to open in May. The food-focussed chain is also reported to be adding 10 sites to its partnership with Sainsbury’s supermarkets, where it currently operates 31 branded counters in-store and 14 ‘click and collect’ stores.

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