British food chain Pret records £86m profits

Continues to grow offshore in the US and Hong Kong

As the trend for healthy eating continues to grow in the UK and international markets, British sandwich chain Pret A Manger has posted record profits last year.

The UK arm of its business stated that the profits rose to £86m in the 12 months to December, up from £57m the previous year.

Talking about its European, American and Hong Kong business segments, the company registered a jump in pre-tax profits to £75.5m, while total sales were £776m.

The chain has opened 31 more stores in the UK, including a vegetarian only option in Soho, London. The total stores nationwide stand at 329.

Pret reports that one in five of its porridge pots sold in 2016 was dairy free, with coconut being the most popular ingredient and selling particularly well. Research by Kantar Worldpanel earlier this year also found that British sales of flatbread had risen 196 per cent in 2016, with avocado rising 33 per cent, halloumi cheese by 29 per cent and spinach by 26 per cent.

Recent media reports suggest that the “McDonald’s of the Philippines”, Jollibee, was interested in purchasing Pret. The takeover would be one of the biggest overseas deals executed by a company from the Philippines, although no confirmation has been received from Pret.

The British sandwich chain has also been growing offshore in Hong Kong and the US.

 

 

 

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