Soaring Christmas sales lent a hand to Patisserie Valerie’s (LON:CAKE) latest results, sending shares soaring at market open on Tuesday.
The chain bucked the gloomy trend on the high street, with “affordable treats” pushing up sales over the Christmas period.
Revenue rose 9 percent in the six months to the end of March, with pre-tax profit up 14 percent to £11.9 million. The company also hiked its interim dividend by 20 percent to 1.44p.
“The period started well with a good build up to Christmas with our new festive range, including the limited edition Reindeer slice, selling well,” the company said.
“The group has delivered a strong set of results in a sector which has well documented challenges,” Luke Johnson, executive chairman, added.
Shares in Patisserie Valerie are currently trading up 0.23 percent at 434.00 (0934GMT),[“Source-ukinvestormagazine”]