Paul posts 2018 results

Paul posts 2018 results

Paul UK, the 37-strong French bakery and café brand, recently announced its financial results for the year ended 31st December 2018. Group turnover increased to £38m, up by 7.4% from 2017’s £35.4m, while like-for-like sales were up 3.4%, from 2.4% in 2017. Online sales, meanwhile, increased by 43.9%.

Profits were helped by a new concept store, Paul Express, which was launched at St Pancras Station, focusing on quick service with a new hot and cold food range. The brand’s catering and delivery range was also developed, resulting in a partnership with City Pantry to allow Paul to offer a greater platter selection for meetings.

Susanne Sauerland, finance director for Paul UK, said: “This is a solid performance in the 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 and online sales, and, of course, the commitment, passion and capabilities of our team.”