Proactiveinvestors Australia Patisserie Holdings Proactiveinvestors Australia Patisserie Holdings RSS feed en Tue, 23 Jul 2019 02:18:14 +1000 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[News - Patisserie Holdings upbeat as cost pressures ease ]]> Cake and coffee chain Patisserie Holdings PLC (LON:CAKE) said the pressure of rising costs appeared to be easing as annual profits rose by a fifth and another twenty new outlets opened.

Best known for Patisserie Valerie, the group also opened its first Philpotts sandwiches outlet and started a supply agreement with Sainsbury’s.

Luke Johnson, executive chairman, said the opening programme had taken in twelve new places and many of the new stores has traded better than expected.

Keeping a lid on costs

“A flexible business model has enabled us to mitigate inflationary cost pressures.” he said, with cost rises returning to normal after a first half spike.

The group is looking at a new bakery in Manchester with capacity to serve 70 stores. Currently, Patisserie has 199 stores in total.

Revenues in the year to September rose by 9.7% to £114.2mln while profits jumped 17% to £20.2mln.

The final dividend rises by 20% to 2.4p

Mon, 27 Nov 2017 09:07:00 +1100
<![CDATA[News - Patisserie Holdings bolstered by new store openings ]]> Opening new stores outside large expensive cities boosted cake and coffee firm Patisserie Holdings PLC (LON:CAKE), it revealed, posting increased revenues and profits in its latest half year.

The group, which owns the Patisserie Valerie chain, opened 12 new stores funded from operating cash flow in the six months to end March.

This included two designer outlets, one motorway service station, two brasseries, two shopping centres, one new store in Scotland, three concession stores in Debenhams and its first new Baker & Spice store..

Locations included Preston, Durham and Bradford, which have lower rentals than larger cities, and with good sales these are exceeding management's expectations.

Pre-tax profit for the six months rose 20.6% compared to the same time last year to £8.4mln, on revenues, up 14.4% to £50mln.

The group declared a dividend of 1p a  share compared to nil in 2015.

Luke Johnson, the executive chairman, said: "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".

Shares added 4.66% to 353.75p.

Wed, 18 May 2016 10:51:00 +1000
<![CDATA[News - Patisserie Holdings serves up tasty first half numbers ]]> Shares in café and cake chain Patisserie Holdings (LON:CAKE) headed higher after the firm reported rising revenue and profit in its first half.

The owner of Patisserie Valerie, Baker & Spice and Philpotts, said pre-tax profits soared 45% to £7mln in the six months to 31 March.

New stores, winter menus and afternoon tea helped drive the figures, with total revenues climbing 22% to £44mln.

Takings from its 106 Patisserie Valerie outlets totalled £29mln, up 18.8% on last year’s first half. Voucher deals sold well, the firm added.

“Sales across all of the different formats in the group continue to perform well and our brand awareness continues to grow,” said executive chairman Luke Johnson.

“The group is well placed for a successful second half of the year and beyond."

Management reaffirmed their intention to offer a maiden dividend to be paid at the end of financial year ending 30 September 2015.

Johnson said he was confident that Patisserie would deliver another set of positive results in line with the board's expectations at the year end.

Shares have risen 47% in the past 12 months and added 12p today to reach 292p.

Wed, 20 May 2015 11:50:00 +1000