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Porridge helps Pret a Manger to healthy profit
Business digest: Sandwich chain plans to open 30 more branches this year
Pret a Manger has seen profits rise due to the popularity of hot products like porridge which it launched in 2010. Bridgepoint, the private equity firm which controls Pret a Manger, announced today that the company's underlying profits grew by 37 per cent last year to £46.1 million.
Pret a Manger already runs 256 outlets across Britain, the United States and Hong Kong and it confirmed today that it plans to open a further 30 shops this year. This will create over 700 jobs, mostly in Britain.
Pret a Manger is optimistic that shoppers and office workers will continue to favour their products despite the slowdown many British retailers have experienced in recent weeks.
"We are still seeing good momentum globally in our business in the early part of the new financial year," it said.
Read a full report at the Evening Standard. ·
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Actually I *like* Pret. But oats & milk for porridge must cost nearly 10p per portion. The rest is profit. No wonder they are doing well.