The family behind bakery giant Warburtons nearly doubled their dividend following record-breaking sales and profit.
The Bolton-based business, managed by the fifth generation of the Warburton family, declared an interim dividend of £27.2m for the year ending 28 September, 2024, as reported by .
This is a significant increase from the £14.7m issued in the previous financial year, as per the latest accounts filed with Companies House.
The increased dividend follows a rise in Warburtons' pre-tax profit from £39.8m to £55.4m, while turnover also saw a boost from £711.3m to £741m.
Earlier in June, accounts for Warburtons Limited were published, revealing the brand's annual turnover but not including its dividend payout or total pre-tax profit for the period.
Warburtons invests £33m to keep prices down
A statement approved by the board read: "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 our key categories, implementing efficiency projects to offset input costs and investing in all our people."
The board expressed satisfaction that these long-term objectives have resulted in improved financial performance during the period.
"The cost-of-living crisis has impacted consumers for the last few years; our product range allows the º£½ÇÊÓƵ population to feed their family at a modest cost."
"Our capital investment programme is essential to offset inflationary pressures as far as practically 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."
