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PRIVACY
Manufacturing

Losses widen at bakery giant as pandemic paralyses food-to-go market

Sales drop 10 per cent after Covid hits while business is in 'recovery mode' following Aunt Bessie's sale

William Jackson Food Group specialises in sliced bread - a key staple of the food-to-go market that was decimated by the pandemic.

Bakery giant William Jackson Foods Ltd saw losses widen as the food service sector ground to a halt through the pandemic.

Ingredients sales and supplies into the out-of-home catering market fell 47 per cent year-on-year, leading to a 10 per cent drop in turnover, down from £251.5 million in 2020 to £226.3 million.

It led to operating losses of £17.4 million rising to £21 million - though strong cash reserves of £35 million and a £10 million credit line have been underlined by the sixth generation Hull-headquartered firm as it ended the year on a better footing.

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In the strategic report accompanying the results for the period to April 24, 2021, chairman Nicholas Oughtred, great great grandson of the eponymous founder, said: “When we entered the pandemic we were in recovery mode following the sale of Aunt Bessie's and MyFresh Wigan and the acquisition of two new businesses which have taken time to bed in.

“Understandably with restaurants closed for much of the year and food-to-go suffering as a result of people staying at home, we haven't made a profit this year, despite an absolutely sterling effort from our [direct to consumer business] Abel & Cole colleagues who almost doubled their sales in the year.

Nicholas Oughtred, chairman of William Jackson Food Group.(Image: rstebbing)

“We did however exit the year in a much better position than we anticipated after strictly controlling our cash and were able to hit the ground running when our new financial year began in April 2021.”

In the company’s 170th anniversary year Investment was prioritised in Jackson’s Bakery - following a “significant launch of new business with Co-op” - as well as 海角视频 market-leading balsamic vinegar and olive oil brand Belazu and Abel & Cole - with the company’s Food Doctor unit sold.