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Patisserie Holdings Year End Results
London: 08 November 2010

Patisserie Holdings Year End Results

Patisserie Holdings announce year-end sales up 14%.

In the period the business generated revenues of £34m and record EBITDA of £6m. This was a rise in revenues of 14% and a 23% uplift in EBITDA on the previous financial year.

During 2009/10 the group opened new branches and absorbed the Baker & Spice business, an upscale bakery/deli based in London. It now has seventy patisseries across England in three formats: Patisserie Valerie, Baker & Spice and Druckers.

The group intends to open at least ten new branches during the next 12 months.

Patisserie Valerie makes its own cakes, viennoisserie, ice cream and chocolate in-house. Unlike virtually all our rivals, we do not use frozen products supplied from third-party factories, but offer customers fresh, authentic patisserie made by us to our unique recipes in our own bakeries here in Britain.

We also provide light meals – everything from breakfast through to elevenses, lunch, afternoon tea and early supper.

The new financial year has started strongly, with record trading in October, and four new openings planned before the year end.

Patisserie Holdings is owned by its management and Risk Capital Partners, the private equity firm.

Paul May the Chief Executive said: “2010 has been a fantastic year for the group in terms of financial performance, store openings and growth, new brands and national exposure. I believe the forthcoming year will continue this progress, and see expansion of the business throughout the UK.”

Luke Johnson, the Chairman said: “It is clear that despite tough economic times, the public love our affordable treats. We offer patrons table service and a moment of indulgence during their busy lives. Across continental Europe every town has an artisan patisserie; in the coming years we intend to bring such luxury and quality to all the major cities of Britain.”