Barkery and cafe chain Paul has reported a 7.4% rise in group turnover to £38m for the year to 31 December 2018.
The chain also reported a 43.9% increase in online sales for the year, also said trading was “positive” for the current year to date.
Over the past year, Paul opened a new concept store, Paul Express, at St Pancras Station, focusing on quick service with a new hot and cold food range. The brand’s catering/delivery range has also been developed resulting in a partnership with City Pantry to allow Paul to offer a greater selection for meetings.
Susanne Sauerland, finance director, Paul UK said: “This is a solid performance by Paul in light of continued uncertainty within the sector.
“Our results in the second half of 2018 and the first half of 2019 are showing significant increases in like-for-like turnover, primarily due to new product development, improved technology/online sales and, of course, the commitment, passion and capabilities of our team.”
Like-for-like turnover is up by 9.5% year to date, with margins showing “favourable” variances to last year.