Premium pie business Pieminister has recorded its fourth consecutive year of double-digit growth.
Sales at the family-run business, which supplies supermarkets and operates its own restaurants, rose 15% year-on-year to £16.6m in the year ended 31 March 2019. The business recorded profit before tax of £349k, after making a £310k loss in the previous year.
Pieminister said the turnaround was “testament to a robust plan” and investment, including the expansion of its bakery in Bristol.
The expansion gave the business capacity to manufacture a range of four snacking patties that have been listed nationally in Sainsbury’s and in pubs and independent retailers.
The company said it had bucked the trend in the restaurant sector, reporting 28% growth in the year. The performance was a result of continued restaurant roll-out in UK university cities, stated Pieminister, which has opened new sites in Sheffield and Liverpool.
Tie-ups with businesses including Picture House Cinemas, Go Ape and the Hilton Group – in which Pieminister offers a fully-branded range of pies – had also grown.
Pieminister co-founder and managing director Jon Simon said the business planned to continue to develop a strong brand presence in retail and foodservice channels.
“There are many exciting plans afoot as we enter 2020,” he added. “In particular, we’re preparing to launch a major tree-planting initiative this spring, which we hope will also encourage the most committed carnivores to try our ever-growing range of plant-based pies and patties, for the health and wellbeing of both people and planet.”