Sales and profits have continued to rise at Warburtons in its latest financial year, driven by increased volumes and NPD launches.
In its annual report filed on Companies House for the 52 weeks to 28 September 2024, the Bolton-based bread giant reported turnover of £741.1m, up 4.2% from the £711.3m in FY23.
Having recorded its highest operating profit in seven years last time around of £32.5m, Warburtons saw it improve even further to £33.6m. Its pre-tax profit jumped by 7% from £29.8m to £31.8m.
Warburtons noted it had delivered 2.9% volume growth during the period, despite a “difficult backdrop” of the highly competitive wrapped bakery market. The historic trend of a decline in wrapped loaves offset by growth in other wrapped bakery products has continued, added the manufacturer.
An essential part of Warburtons success is down to its investment in product quality and new product development, it said. It has a dedicated two-storey 2,278 sq ft R&I centre located next to its headquarters on Hereford Street in Bolton, which it claims is core to delivering against consumer needs for quality, freshness, and shelf life, keeping it as the UK’s number one bread brand and fifth largest grocery brand [The Grocer, Britain’s Biggest Brands 2025].
Among the new products launched during FY24 were Gluten Free Soft Pittas (which went on to win Free From Bakery Product of the Year at the Baking Industry Awards 2024), Belgian Waffles, Sesame Bagel Thins, Protein Soft Pittas and Protein Flatbreads.
Warburtons also highlighted its implementation of efficiency projects to offset input cost rises, while an investment of £33.5m in its facilities and distribution fleet – including new electric trucks and rigid box vans – has helped maintain its price competitiveness. “The company monitors the impact of inflationary pressure on an ongoing basis and identifies opportunities to mitigate this risk,” it said.
In its strategic report, Warburtons revealed various items that had been considered at board meetings during the period. These included a detailed five-year business plan, changes to the structure of the leadership team, potential acquisition opportunities, developing an export market in Australia (and establishing a subsidiary in that territory), and closure of its Burneys Ltd subsidiary.
Looking ahead, the directors said they expected the general level of activity to remain broadly consistent in the forthcoming period with the current performance. “The continued development of new product ranges and focus on quality and service levels are anticipated in order to stabilise sales performance in the wrapped bakery market”, said Warburtons.
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