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