Irwin’s bakery has reported a turnover of £29.m, but also a loss of £128,574 for the year ending 29 March 2015.
Northern Ireland’s biggest independent bakery had a turnover of £29.6m – down slightly on turnover in 2014 of £32.8m – but still finished the year in the red, according to figures published this week on Companies House.
The company had a “disappointing year, largely as a result of very competitive trading conditions”, according to the report. While it generated a loss of £128,574 for the year ending 29 March 2015, this compared favourably to the loss of £534,096 reported a year earlier.
Irwin’s reported net current liabilities of just over £4m, compared to £4.2m for the year ending 30 March 2014.
Its turnover was double that of its closest rival, McErlain’s in Magherafelt, (which trades as Genesis Crafty), but McErlain’s recorded a pre-tax profit of £500,000 in its most recent financial year.
Looking forward, the report said: “The directors have every expectation that the action plan in place will deliver improved financial performance and lead to sales and profit growth over the coming year.”
Irwin’s ranges in Morrisons, Waitrose, Tesco and Sainsbury’s include Paul Rankin breads and bun brand Howell’s.