Patisserie Holdings, the UK’s leading branded operator of patisserie shops, has announced H1 results broadly in line with our expectations. We have edged up our PBT estimate to reflect slightly lower than expected depreciation and reduced our tax charge estimate by 60bps to 20.4% in line with the H1 charge. The Group opened 12 stores in H1 (11 Patisserie Valerie and 1 Baker & Spice) taking the size of the chain up to 177 stores, leaving the Group comfortably on track to reach its ta
18 May 2016
Breadwinner – H1 results showing solid progress
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Breadwinner – H1 results showing solid progress
Patisserie (CAKE:LON) | 0 0 3.2% | Mkt Cap: 343.9m
- Published:
18 May 2016 -
Author:
Ian Berry -
Pages:
3
Patisserie Holdings, the UK’s leading branded operator of patisserie shops, has announced H1 results broadly in line with our expectations. We have edged up our PBT estimate to reflect slightly lower than expected depreciation and reduced our tax charge estimate by 60bps to 20.4% in line with the H1 charge. The Group opened 12 stores in H1 (11 Patisserie Valerie and 1 Baker & Spice) taking the size of the chain up to 177 stores, leaving the Group comfortably on track to reach its ta