Patisserie Holdings lands top award for IPO
BIRMINGHAM-based Patisserie Holdings has been named IPO of the Year at a prestigious awards ceremony.
The company, parent of cake and coffee shop groups Patisserie Valerie and Druckers together with sandwich shop chain Philpotts, collected the honour at the Grant Thornton Quoted Company Awards 2015 in London.
This awards, now in their 11th year, focus on listed companies quoted below the FTSE 350 through to AIM and ISDX.
Patisserie Holdings floated on the Alternative Investment Market (AIM) in May in a move which valued the business at £170m.
Judges assessed the nominated companies on the amount of money raised, the costs of float, timing, sector and the type of company floated. They also looked at the valuation of the company as well as its performance since float.
Paul May, CEO, Patisserie Holdings said: “This is a great achievement for Patisserie Holdings and we are delighted to have won this prestigious award. We’ve worked extremely hard to make this business a success, and will continue to do so.”
In November, in its first set of full year results since its listing in May, the group revealed revenue of £76.6m compared to £60.1m in the previous 12 months.
Its preliminary results for the 12 months ended September 30 revealed adjusted pre-tax profit was up by 37% to £11.3m (2013: £8.2m). That figure excluded £900,000 of costs associated with the IPO and the acquisition of Philpotts last February.
As part of its growth strategy the group has said it intends opening 20 new stores around the UK this year.
It currently has over 150 sites nationwide. In addition to Patisserie Valerie, Druckers and Philpotts, it also operates the Baker & Spice and Flower Power City Bakery brands.
