The UK’s largest pasty operator has announced an underlying profit of £551,000, despite having posted a pre-tax loss of £195,000.
Turnover for West Cornwall Pasty Co (WCPC) in the 50-week trading period ending 31 March 2015 was £12.5m. This represented an improvement of more than £1.3m on the period ending March 2014, when, under previous ownership, the business said it had lost over £800,000.
In the 50-week period ending 31 March 2015, the company acquired 33 retail units, two seasonal sites and a franchise agreement with MOTO Hospitality from the administrator of West Cornwall Pasty Realisations.
Long-term contract signed
WCPC also lost two retail sites, which the report described as “challenging”, as “it was not possible to agree terms with the landlords to remain in occupation”. But in more encouraging news, commercial director Leigh Dale told British Baker that a new long-term contract had been signed with England Rugby Union corporate hospitality business Twickenham Experience, which “covers the period through to the end of the 2018/19 season”.
West Cornwall Pasty Co is known for its multi award-winning, handmade PGI status Cornish pasties, and the report said that it was now focused on the ’food-to-go’ market and its own brand coffee, St Just.