Welsh bakery Brace’s has reported pre-tax profits of £1.2m for the year ended 30 September 2013.
Published at Companies House, the business saw turnover for the year increasing from £35.4m in 2012 to £35.9m in 2013, with gross profit increasing from £9.9m to £10m.
The report also revealed a rise in operating profit of £252,000, from £1.1m in the prior year to £1.4m.
Profit after tax for the financial year amounted to £878,000, down from £1.1m in 2012.
The results follow a £2m investment in the bakery’s Rogerstone site.
The director’s report said the main focus of the business remained on “growing share of the bread market in the UK”, with investment focusing on enhancing the company’s capabilities to meet changing consumer trends.
In November last year, Colin Brace, chairman, received an OBE for his services to the baking industry and to the community in Wales.