Alan Marr, MD of Aulds (Food) of Greenock, Scotland, was scathing about press reports that profits at the company were down when he spoke to British Baker.
Scotland’s largest independent baker and frozen foods company, Aulds Holdings, filed returns to Companies House for the year ending March 2007 showing turnover was down from £17.1m in 2006 to £16.69m in 2007.
Scottish newspapers claimed profits had fallen from £2.34m in 2006 to £515,719 in 2007 but Marr said the £2.34m was not a trading profit but an exceptional figure resulting from the factory fire in September 2005. "Profits are up," he said, "they should look at the ongoing trading profit."
Projected turnover to the end of March 2008 is higher than last year, he asserted: "That’s around a 10% increase. And we hope for higher profits. The bakery side is becoming more competitive."
Aulds, which has 43 shops, is opening a 44th outlet in Ayr High Street next week and plans to open another unit at an undisclosed location.