Results round-up: Patisserie Valerie, Corney & Barrow, M&B
6 February, 2013
Patisserie Valerie, Corney & Barrow and Mitchells & Butlers are the companies presenting a mixed bag of financial results over the last seven days.
Patisserie Holdings, the company behind fast-growing Patisserie Valerie,
said turnover grew by 22% to £49.5m in the year to end-September, with EBITDA up 20% at £9.6m. Pre-tax profits rose 28% to £5.9m and operating profits 24% to £6.7m. It opened 18 new sites over the financial year, and said all were trading positively. See Sales, profits jump at Patisserie Valerie.
Wine bar group Corney & Barrow has reported an increase in turnover but a fall in profits amid a tough year in its City heartlands. Across the group, including its wine merchant business, sales in the year to end-April rose from £68.4m to £72.6m, while pre-tax profits edged down from £4m to £3.3m. At the wine bar business, turnover nudged up from £16.7m to £16.9m, but a pre-tax profit of £0.4m turned into a £1.1m loss in the most recent year. See: Sales up, profits down at Corney & Barrow.
Mitchells & Butlers said like-for-like sales fell 0.3% in the 17 weeks to 26 January. Despite strong Christmas trading, since then the cold weather and snow has badly hit trading, it said. Across the festive season as a whole, made up of the six weeks to 5 Januray, like-for-like sales increased by 4%. See: Bad weather hits M&B with like for like sales drop.
Coffer Peach Business Tracker trading data for January will be published next Wednesday.
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