In its newly published financial results on Companies House, the bakery firm reported turnover of £741.1 million, up 4.2% from £711.3 million in the 53 week period up to 30 September 2023.
This translated to an increase in operating profit from £32.5 million to £33.6 million and a rise in pre-tax profit from £29.8 million to £31.5 million.
However, the firm paid more in taxes meaning that profit after tax fell from £20.1 million in 2022/23 to £16 million.
Staffing costs rose to £253.7 million in 2023/24, with average staffing numbers marginally up to 4,959 during the period, although director salaries declined from £5.8 million to just under £5 million for the year.
In the strategic report, the Warburtons directors said that they were satisfied 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 said.
“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.”
It also cited data from The Grocer in March 2024 which placed Warburtons as the fifth largest grocery brand in the UK.
“In a backdrop of political and economic uncertainty the company has maintained its key strategic priorities of the highest product quality possible, delivering best in class customer service, growing market share in our key categories, implementing efficiency projects to offset input costs and investing in our people,” the report added.
Headquartered in Bolton, Warburtons currently produces more than two million products per day at its 11 bakeries. From its 18 depots, the company delivers fresh baked goods to 18,500 stores across the UK every morning.
Warburtons recently released a new advert featuring Oscar winning actor Olivia Coleman, the latest in a series of star-studded ads for the business.
