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Patisserie Holdings - On track for 20 new stores

July 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • CAKE
  • Price:
  • 341p
Interims from Patisserie were slightly ahead of forecast with revenues, pretax profit and eps ahead 14%, 21% and 22%, respectively, to £50m, £8.4m and 6.7p. Gross margin rose 1% to 78.3% helped by lower wastage and buying economies and are expected to offset wage pressures from the national living wage in H2.Its main brand, Patisserie Valerie, the part patisserie part café concept, increased sales by 21% to £35m and closed the period with 126 stores vs 106 a year ago. There appears to be no sign of brand fatigue as it opened successfully in designer factory outlets, motorway service stations, brasseries, shopping centres and concessions. Additional concessions in Debenhams (three currently) will be increase ...

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