Patisserie Valerie reports pre-tax profit growth of 14.2%

Patisserie Valerie has reported year-on-year pre-tax profit growth of 14.2% for the six months to 31 March 2018, saying its "affordable treats remain popular with a diverse customer base".

In its interim results, published this morning, the company reported pre-tax profits of £11.1m, up from £9.7m the previous year.

Group revenue was up 9.1% over the period to £60.5m, with gross profit up 8.7% to £47.1m.

Patisserie Valerie opened 10 new stores during the period and now trades from 206 locations.

Luke Johnson, executive chairman, said: "The group has delivered a strong set of results in a sector which has well-documented challenges. Our vertically integrated and flexible business model enables us to deliver consistent profits, with our affordable treats remaining popular with our very diverse customer base.

"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."

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