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Mon 19th Mar 2018 - Paul UK reports turnover and Ebitda up
Paul UK reports turnover and Ebitda up: Paul UK, the 37-strong French bakery and cafe brand, has reported group turnover up 9.6% to £35.4m (2016: £32.3m) in the year to 31 December 2017. Revenue was up 2.4% on a like-for-like basis. Group Ebitda (after head-office costs) was £3.2m, 0.7% up on last year. Three new units opened – a new-format kiosk at Tower 42 offering a specialist coffee experience; a second kiosk at the new Westgate Shopping Centre in Oxford; and a bakery at Hammersmith Broadway – in line with the brand targeting major transport hubs. Online sales increased 58%, driven by increased IT investment in the brand’s online ordering system. Further development of the brand’s catering/delivery range resulted in the introduction of more individual products, a greater selection of platters for corporate meetings and parties, and more variety in Paul’s special celebration cakes. Paul increased its re-usable cup benefit, as part of the ‘Paul Cares Policy’, from 10p to a 25p discount for customers. The company plans to open two stores in 2018, including a larger unit in Canary Wharf. The company stated: “New products continue to be developed to ensure Paul is a market leader in French bakery and patisserie. Investment in the estate continues to finish the overall refurbishment plan, started three years ago. The company is in its third year of partnering with the charity, The Felix Project, through its Paul Share programme. The company continues to distribute not only unsold items but specially baked products to help the homeless while supplying school breakfasts for underprivileged kids and raising enough funds to purchase a second delivery van. Paul UK chief executive Jean-Michel Orieux said: “This is a solid and pleasing performance from Paul in light of challenging trading conditions such as rising property costs, the fall in sterling, and an increased minimum wage. Closer ties with suppliers and improved menu engineering saw costs controlled, allowing us to continue to strategically and carefully expand. We owe these results to our amazing, committed team, who deliver our promise of freshness and passion for quality to our loyal customers daily. We will continue to evolve our product range and we’re confident Paul will continue to engage with our customers and perform well.”

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