Pret a Manger has returned to profit for the first time since the pandemic began, after the company switched its focus from city centre outlets to out-of-town shops.
The sandwich chain said on Monday that it started to turn a profit again in March this year. Half-year sales more than doubled to £357.8m from £155m the previous year, when business was hit by Covid-19 restrictions.
Sales grew faster outside London than they did in the capital, “reflecting the sustained growth of Pret’s regional shop estate”, the company said. More than a third of Pret’s 442 UK shops are now located in regional cities and towns.
The privately owned company posted an operating loss of £226m in 2021, an improvement from £343m in 2020.
In September last year, Pret unveiled a medium-term growth strategy to double the size of its business within five years, as well as expanding into five new markets by the end of 2023.
