Pret grows like for likes 6.5%
30 May, 2012
Pret a Manger says it increased sales and EBITDA last year despite the pressure on consumer spending and rising food costs.
Like for like sales increased by 6.5%, though this represented a slowdown from the figure of 9.8% for the previous year. Total sales rose 15.2% to £377.3m, with EBITDA up 14% at £52.4m. Operating profits rose by more than a third to £17.1m, though gross margins were held down by the rise in food and commodity costs.
Sales growth in the UK alone was 12.6% to take its revenue here to £316.9m, while Pret’s Hong Kong and US divisions both saw sales rise by around a third. The year saw Pret open 22 new branches in the UK, taking its total to 236. It also continued a refurbishment programme that has seen stores take on a lighter and airier design (pictured).
Pret also highlighted its work with charities, which included a campaign to raise £791,000 for homeless charities by donating a slice of revenue from selected products. The Pret Foundation Trust meanwhile distributed around 2.4 million products to charities.