Patisserie Valerie’s strong growth in revenue has delighted investors with revenues up 20.0% to £91.9m.
The continental Patisserie group, with high street outlets all over the East Midlands, increased gross profits almost pro rata to £71.0m and adjusted EBITDA of £18.8m translating into a maiden final dividend of 1.67 pence per share for investors.
The group successfully opened 26 new stores in the last 14 months and have targeted 20 new stores for financial year 2016.
Luke Johnson, Executive Chairman, said “We are pleased to announce another record year for the Group where we have delivered excellent financial results. We strengthened our team following our IPO on AIM and have seen the benefits this year with new ideas and products enhancing our brands’ reach. We are well positioned for future organic growth and acquisitions and I am particularly pleased to be able to announce our maiden dividend. Our pipeline for new stores is strong and I am confident of another successful year ahead.”
Patisserie Valerie was first opened in Frith Street, in London’s Soho, in 1926 by Belgian born Madam Valerie. She came to London on a mission to introduce fine Continental Patisserie to the English. It was an instant success and outlets can now be found in most major cities and towns.