Walkers Shortbread has announced a 3.5% rise in turnover, to £123.7m in its full-year accounts to 31 December 2012.

The firm, which manufactures shortbread, oatcakes, biscuits, cakes and other Scottish specialities, said it had achieved continued progress in growing revenue across its key channels.

It said the development of the Walkers brand at home and export markets, had helped raise its total operating margin from 7.2% to 11.8%. Operating profit stood at £14.6m, up from £8.9m in 2011.

Revenue from exports crept up slightly from 2011, at £51m, and currently makes up 41% of the company’s business.

The firm has also doubled its charitable donations from £36,503 to £69,435.

“Given the nature and scale of the cost pressures we continue to face, it is probable that our margins will erode from their current levels over the short to medium term,” read the directors’ report.