Latest accounts from Le Pain Quotidien reveal the company achieved sales and profit growth last year as the chain more than held its own in the UK bakery and cafe market.
Sales at the company increased 3.5% year-on-year to £39.5m for the 12 months to 2017, while pre-tax profits rose from £907,000 to £1.3m during the same period. Overall profits climbed from £727,000 to £1.2m.
Gross profit margin slipped from 19.6% to 16.1%, which the business blamed on “significant” increases in overall property costs.
Despite the growth, Le Pain Quotidien held back from any large-scale store expansion last year. It opened just two new branches in 2018, taking its overall tally to 30 sites. Worldwide it runs more than 200 sites.
Directors of the firm did not make any comment on the performance or share any insight on future developments, but proposed a final dividend of £1.2m for the company’s parent company PQ Licensing, which is based in Belgium.