Patisserie Valerie owner sees sales rise to £50m

THE owner of Patisserie Valerie and Philpotts has had an “excellent” first half after opening 12 stores and achieving £50m sales.

Patisserie Holdings, which also operates the brands Druckers Vienna Patisserie, Baker & Spice, and Flower Power City Bakery, increased revenues by 14% and pre-tax profits by 21%, to £8.4m.

Luke Johnson, executive chairman of Patisserie Holdings, said: “I am delighted to announce an excellent set of results for the six months to March 2016. The Group has continued to deliver strong growth in sales and profit in what is a competitive trading environment.

“We opened 12 new stores in the period all of which are performing well. Our pipeline for new stores is well developed and I look forward to another period of strong growth in the second half of the year”.

The company opened 18 stores in its 2015 financial year and its continued growth has resulted in it having 177 stores open at the end of March.

Mr Johnson added: “Our focus remains on our store rollout programme. However we continue to assess acquisition opportunities which will add value to our operations.”