In its recently published financial results on Companies House, the bakery firm reported a turnover of £741.1 million. This marks a 4.2% increase from £711.3 million in the 53-week period ending 30 September 2023.
Consequently, the company saw a rise in operating profit from £32.5 million to £33.6 million, alongside an increase in pre-tax profit from £29.8 million to £31.5 million.
However, the firm faced a higher tax burden, resulting in profit after tax decreasing from £20.1 million in 2022/23 to £16 million.
Additionally, staffing costs escalated to £253.7 million in 2023/24. Average staffing numbers increased slightly to 4,959 during this period. Notably, director salaries declined from £5.8 million to just under £5 million for the year.
In the strategic report, Warburtons’ directors expressed satisfaction with the company’s performance.
“The wrapped bakery market has been highly competitive for some time and the historic trend of a decline in wrapped loaves offset by growth in other wrapped bakery products, has continued,” the report stated.
“In this difficult backdrop, the Warburtons brand has delivered 2.9% volume growth during the financial period. An essential part of the success of the Warburtons brand is our investment in product quality and new product development. Our dedicated R&D has been core to delivering against our consumers’ needs for quality, freshness and shelf life.”
Headquartered in Bolton, Warburtons produces over two million products daily across its 11 bakeries. Furthermore, the company distributes fresh baked goods to 18,500 stores across the UK every morning from its 18 depots.
