Gourmet sandwich company Pret a Manger has reported its first return to substantial profit in four years.
In 2004, the company made £7.8m in operating profit, before goodwill and amortisation, an increase of £7.3m from the previous year and the first significant profit since 2000. Turnover also rose 15% to £152.5m.
The UK, USA and Hong Kong markets all saw sales growth of over 10% and increases in operating margins.
Net borrowings for 2004 were £16.9m, £9m less than the previous year.
Pret has opened six new sites in the UK and one in Hong Kong already this year and has 148 shops in total.
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