Warburtons family in the dough after record sales and profit
The family behind Warburtons almost doubled their dividend after sales and profit at the bakery giant hit new records.
The Bolton-headquartered business, which is run by the fifth generation of the Warburton family, issued an interim dividend of £27.2m in the year to 28 September, 2024, it has been revealed.
The pay out is up from the £14.7m it issued in its prior financial year, according to new accounts filed with Companies House.
The dividend comes after Warburtons’ pre-tax profit rose from £39.8m to £55.4m in the year while its turnover also surged from £711.3m to £741m.
Accounts for Warburtons Limited, which were published earlier in June, revealed the brand’s turnover for the year but did not include its dividend pay out or its total pre-tax profit for the period.
Subscribe to City PM’s Boardroom Uncovered show here.
Warburtons invests £33m to keep prices down
A statement signed off by the board said: “In a backdrop of political and economic uncertainty the company has maintained its key strategic priorities of the highest product quality possible, delivering best in class customer service, growing market share in ur key categories, implementing efficiency projects to offset input costs and investing in all our people.
“We are pleased that these long-term objectives have translated into improved financial performance during the period.
“The cost-of-living crisis has impacted consumers for the last few years; our product range allows the UK population to feed their family at a modest cost.
“Our capital investment program is essential to offset inflationary pressures as far as practical possible so that we continue to offer value for money.
“This year we have invested £33.5m in our facilities and distribution fleet to maintain our price competitiveness.”
Warburtons added: “Overall the directors are satisfied with the performance of the company during this financial period.”