Pret A Manger sales boosted by international expansion
Pret A Manger has posted a 10% increase in first half sales to £569 million across its company-owned and franchise shops with the growth driven by continued expansion into new markets.
The news comes as the company files its 2023 accounts with Companies House, which show that adjusted EBITDA rose by 12% to £166 million in the year.
In September 2021, Pret set a target of doubling the size of its business within five years following system sales of £412 million in 2020 and £512 million in 2021. The 2023 results show the business has achieved the target three years ahead of schedule, with global system sales increasing by 22% to £1.1 billion in the period.
During the year, Pret opened a record 81 shops around the world of which more than half were outside the UK in countries like the US, Canada, India, Greece and Spain.
Pret’s fastest market expansion has been in India with 15 shops opened across Mumbai and Delhi within 12 months.
Pano Christou, Pret A Manger chief executive, said: “I am so proud of the progress we have made over the last three years. We set ourselves some tough targets to get Pret going again after the pandemic, and we have delivered.
“I want to thank all our team members for everything they do to help bring the joy of Pret to our customers, and look forward to taking Pret to even more people, in more places, next year
