Pret revenue rises 20.2%

Pret A Manger has announced that half-year revenue in 2023 reached £429.9m, growing by 20.2% compared to the same period in 2022 (£357.8m). This year saw the business report a record sales week in May and June, driven by the success of its expanded subscription offer, Club Pret, which was launched in April.

The results come as Pret files its 2022 accounts to Companies House. The group returned to profitability in 2022 for the first time since 2018, reporting an annual operating profit of £50.6m.

The latest results reflect the success of the chain’s transformation strategy, with the ambition of bringing Pret to more people – both in the UK and around the world. It is tracking ahead of its mid-term growth target announced in September 2021 to double the size of its business within five years. It has entered seven new international markets since 2021, surpassing its target of five new entries by end-2023, with international sales now accounting for 18.9% of revenue.

Pret A Manger’s chief executive officer Pano Christou said: “It’s been three years of transformation, in which we’ve evolved into a truly global, multi-channel brand, and emerged as a stronger business than we were in 2019. We’re focused on continuing to grow, while constantly innovating to bring Pret’s freshly made food and organic coffee to brand-new places, from Bishop’s Stortford to Bradford, from Italy to India.”

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