Patisserie Holdings, which owns cafe chain Patisserie Valerie, has said its underlying earnings grew by 24% to £12.3 million in the year to September.

Revenues rose by 21% to £60 million after it opened 19 new stores, including in Glasgow, Derby and a number of London train stations.

The chain now has 137 outlets after adding seven stores in the new financial year, including in Exeter and Cheltenham, and buying the 23-outlet sandwich and salad chain Philpotts.

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Risk Capital Partners, owned by serial entrepreneur Luke Johnson, is the main backer of Patisserie Holdings.