Bettys & Taylors Group has increased sales 5% to £163.4m despite “competitive pressures” in its core markets.
However, pre-tax profits at the business behind Taylors of Harrogate, Yorkshire Tea and Bettys tea rooms fell £1.2m to £9.6m in the year ended 31 October 2015.
Revenue growth has slowed slightly in the past two years, with Bettys recording double-digit jumps from 2006 to 2013, adding close to £100m to the top line.
“This has been a year in which competitive pressures in our core markets continued to grow,” finance and resources director Paul Cogan said.
“We have responded to the competitive challenge by listening carefully to our customers and developing new and innovative products to delight them. Throughout the year we also continued to invest strongly to support our core brands. These results demonstrate the success of this approach and our genuine passion for delivering high-quality products that reflect our Yorkshire heritage.”
Yorkshire Tea, which is the third bestselling black tea blend in the UK, had started the new financial year strongly, the group added. The brand has renewed its partnership with the England and Wales Cricket Board to remain the ‘Official Brew of England Cricket’ for another three years.
Founded in 1919 by Swiss confectioner Frederick Belmont, Bettys & Taylors is now into its fourth generation of family shareholders.
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