Coconut porridge, vegetarian food boost Pret a Manger sales

Listen to this article

00:00
00:00

Like-for-like sales at Pret a Manger stores rose 5 per cent last year as the coffee-and-sandwiches chain beloved by office workers branched out into products such as coconut porridge and stores selling only vegetarian food.

Pret said total sales rose 15 per cent to £776m as 50 stores were opened, taking the total to 444. Earnings before interest, tax, depreciation and amortisation rose 11 per cent to £93m.

Pret is a private company and did not disclose full financial statements. It is majority owned by Bridgepoint, a private equity firm, while founders Julian Metcalfe and Sinclair Beecham also have a shareholding.

Clive Schee, chief executive, said the chain planned to open its 500th store in the next 12 months and was intent on “furthering our measured expansion in both existing and new markets”.

Pret said 31 of the 50 new shops were in the UK with the rest in US, France, Hong Kong, China, and Dubai.

The chain said almost a fifth of sales came from products launched in the past year and that dairy-free products were popular.

Copyright The Financial Times Limited 2017. All rights reserved. You may share using our article tools. Please don't copy articles from FT.com and redistribute by email or post to the web.