Bakery Services has announced ’disappointing’ preliminary results, for the year ended 31 March 2007, showing pre-tax losses of £124,985.
Bakery Services operates Don Millers’ franchise cafés and Inbake, an in-store bakeries business. Underlying sales revenues generated by Don Millers were down by approximately 8% at £2.75 million. The company closed one store in January 2006.
The group’s in-store bakery business, Inbake, increased revenues by 3% over the year and, in most host stores, increased total store sales participation. Operating profits before group management charges at Inbake improved to £278,091 against £240,500 for the same previous year period.
The company said it plans to seek outside investment opportunities to help enhance shareholder value. It will propose a resolution at its annual general meeting in August.