The group behind brands such as Jammie Dodgers, Wagon Wheels and Party Rings cut its losses as its revenue neared £600m.
The group, which includes Burton’s Biscuit Company and Fox’s Biscuits, also makes the likes of Fabulous Fox’s, Chocolatey, Rocky, Maryland and bakes Mars-branded biscuits under licence.
Newly-filed accounts with Companies House for the year to August 26, 2023, show the group’s revenue totalled £595.1m while its pre-tax losses were £21.5m.
The results come after Burton’s Biscuits and Fox’s Biscuits combined to form a new company in 2022.
For its prior financial period, the 34 weeks to August 27, 2022, the group’s revenue stood at £289.7m and made a pre-tax loss of £38.4m.
During the 12 months the average number of people employed by the group totalled 3,460, down from 3,722 it had on its books in the prior 34-week period.
Combination of biscuits makers Burton’s and Fox’s ‘strengthens brands’
A statement signed off by the board said: “2023 represents a challenging, but successful period for the group despite the external pressures from the conflict in Ukraine and onward impact of inflation on key ingredients and energy cost.
“The continued benefit from joining Burton’s with Fox’s under one combined senior leadership team strengthening the group’s combined market position as the second largest biscuit manufacturer in the United Kingdom.
“The business continues to invest in its brands through above the line advertising campaigns for the group’s brands together with innovative new product development.”
The group’s UK sales totalled £544m in the year, £39.3m in the rest of Europe and £1.5m in North America.
Those figures compare to £271.4m UK sales in the 34 weeks to 27 August 2022, £15.3m in Europe and £1.1m in North America.
The group is ultimately owned by Ferrero Group. City A.M. recently reported that the group’s UK sales surged past £500m during its latest financial year.
Ferrero UK, which owns Ferrero Rocher, Nutella, Kinder Surprise, Thorntons and Tic Tacs, posted a revenue of £557.5m for the year to August 31, 2023, up from £473.4m.