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Thu 20th Oct 2016 - Krispy Kreme UK announces 18.2% sales increase, profits up £4.5m
Krispy Kreme UK announces 18.2% sales increase, profits up £4.5m: Krispy Kreme UK has reported revenues were £61,700,000 (2015: £52,192,000) for its financial year ending 31 January 2016, an increase of 18.2%. The company said profit before tax was £11,759,000 (2015: £7,260,000). Gross profit margin was 58.5% (2015: 56.9%), resulting in an adjusted Ebitda of £13,688,000 (22.2% of sales), compared with £10,295,000 (19.7% of sales) in the previous year. At 31 January, the company operated 61 retail stores across the UK, compared with 50 in 2015. The company said it also “continues to develop its off-premises business with new and long-standing partners”. The company said the results provided a “stable and cash generative base on which the directors intend to continue building a sustained and measured roll-out over the coming years as suitable retail and off-premise sites become available”. It added: “The strong profit performance of the business and the resulting cash generation has enabled the group to repay some of its shareholder loans held in Frimley Topco Ltd on 2 June 2015, and to refinance its remaining loans with Santander UK at a significantly lower interest cost and with an extended maturity.” Earlier this month, Krispy Kreme UK announced the sale of 100% of the company’s share capital to Krispy Kreme Group, its US-based brand owner. The transaction is expected to be completed by the end of the month. Krispy Kreme UK said it would continue to operate as normal and all staff and management had been retained as part of the transaction. It added that the company would pursue its current business strategy which is “focused on delivering profitable growth through the opening of new retail stores and self-serve cabinets across the UK and Republic of Ireland and driving core sales growth across the existing estate”.



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