Pret a Manger has reported its first profit increase since 2018 as strong demand for its subscription service helped the group bounce back.
The coffee chain saw revenues rise 20.2% year on year for the first six months of 2023 to £429.9m.
Sales in the UK rose by nearly 16% in this period, while digital transactions reached 42% up from 40% in December 2022.
In figures for 2022 released for the first time, the company recorded an annual operating profit of £50.6m, which saw it return to profit for the first time since 2018 as it bounced back from a loss of £168m a year before.
Pret upped the cost of its subscription service by 20% in April to £30 a month, and expanded the scheme to include a 10% discount on food and cold drinks.
The group’s sales were also boosted by international expansion as Pret now operates more than 600 shops across 15 countries. International sales now account for 18.9% of revenues.
Pret chief executive Pano Christou said: “It’s been three years of transformation at Pret, in which we’ve evolved into a truly global, multichannel 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, and from Italy to India.”
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