Profit more than doubled and sales jumped by double digits at Signature Flatbreads in its most recent financial year.
Newly filed accounts for the Dunstable-based manufacturer covering the year to 27 July 2024 showed group revenues of £330.5m, an increase of 16.1% compared to the £284.7m generated in FY23.
The company – which won Bakery Manufacturer of the Year at the Baking Industry Awards 2023 – noted growth was due to additional sales of its naans, tortillas, crumpets, pancakes, and flatbreads to existing customers, primarily in the retail, QSR, and foodservice sectors, as well as to new customers in the UK and abroad. Exports continued increasing over the 12-month period and were sent out to over 20 separate countries, it added.
Signature Flatbreads posted net profit of £42.8m versus £20.6m the year prior, with operating profit margin improving from 9.9% to 18.2%.
“Over the past five years, we’ve re-invested the majority of the profits generated to expand our capabilities, drive product innovation, futureproof our bakeries and respond to the needs of our key retail and foodservice partners,” commented David Laurence, joint Managing Director of Signature Flatbreads UK.
The end of the financial year coincided with the completion of its five-year £100m investment programme to enhance production capacity at its 500,000 sq ft site located in Chiltern Park Industrial Estate, which contains multiple bakery units, as well as a site in Nashik, India. As it prepared to mark its 40th anniversary last September, the company unveiled plans to invest a further £150m to increase capacity and expand its product range, creating more than 500 jobs as a result.
”Signature Flatbreads launched over one hundred new products in twenty countries in 2024 which delivered growth in the year,” added Laurence. ”Looking ahead, the plan is to invest over £150m to continue innovating the bakery category and to excite and delight consumers.”
Its new financial year has seen the launch of new protein-packed pancakes, flatbreads, and wraps under its Deli Kitchen brand as well as new Everything Wraps. At the start of 2025, it added a trio of talent to its marketing team and kicked off an out-of-home campaign targeting the lunchtime occasion.
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