New products helped sales and profits rise at Pukka Pies during its latest financial year, according to newly-filed accounts.
The Leicester-headquartered company, which was founded by the Storer family in 1963, has posted a turnover of £79.1m for the 12 months to May 27, 2023, up from £64.5m.
Its pre-tax profits also increased from £4.3m to £6.7m over the same period.
Pukka Pies said its turnover rose because of new product launches, new customers, improved distribution and retail category growth.
It added that the increase in its profits was driven by improved sales volumes due to new products and distribution gains.
Pukka Pies’ UK turnover increased from £64m to £78.7m, fell from £434,222 to £353,527 in Europe and rose from £5,587 to £8,749 in the rest of the world.
During the year, the average number of people the company employed increased from 398 to 425.
A statement signed off by the board said: “The directors are satisfied with the performance over the last 12 months given the demanding and volatile nature of the current market.
“The company’s focus to meet all of the requirements of the customer base by delivering a superior quality product, offering excellent value for money with best-in industry service levels.
“Over the course of the financial period the company has seen significant commodity inflation.
“This has been mitigated through working closely with our customers along with further improvement in production efficiency.
“The company is in the middle of a multi-year capex investment program, with the objective of continual improvement in production efficiency and maintaining our market leading facilities.”