Independent chain Cornish Bakery is set to open six new locations in the coming months.
News of the openings come as the business reported achieving EBITDA of £4.2m for the full year to May 2022, with profit before tax of £3.1m.
The business said that it achieved record sales and profit margins across its tourism locations, and that strong post-pandemic recovery had been seen in its high street and factory outlet centres.
Cornish Bakery also participated as partners for the Commonwealth Games at the NEC, where the business now has five outlets.
2022 was the business’s first full year of operation under a rebrand that had been developed by Cornwall-based A-Side Design, with eight refurbishments carried out during winter 2022/23.
During the year new bakeries were opened in Plymouth Barbican, Beverley, Stamford, Rye, Whitby and Caledonia Park, Scotland and the company is set to open six new branches in Truro, Bakewell, Canterbury, Cheltenham, Harrogate and Bury St Edmunds in the coming months.
The business reported that its Employee Net Promoter Score (a metric used to measure employee engagement and loyalty) moved from ‘good’ to ‘great’, with the company currently recording its lowest ever staff turnover.
“‘Aim Higher’ is one of Cornish Bakery’s core values, and we just keep going higher and higher,” said Cornish Bakery founder Stephen Grocutt.
“Winning beautifully is very important to us and I draw great satisfaction seeing many happy teams and customers. I’m delighted that Cornish Bakery is raising the quality bar across the sector. Just watch us in 2023!”
Meanwhile, trade group The Cornish Pasty Association, which administers the PGI designation that protects the use of the Cornish pasty name, has this month announced a new initiative to help tackle food poverty in the county. The Association is encouraging those making or selling genuine Cornish pasties to participate in The Cornish Pasty Community Fund, with all money raised going towards helping the charity Devon & Cornwall Food Action expand its reach in Cornwall.
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