Biscuits giant Fox’s Burton’s returned to underlying profitability in its most recent financial period as it increased UK market share and export sales.

The company, formed in March 2022 under confectionery giant Ferrero, grew sales by 22.7% in the year to 26 August on a like-for-like basis.

The maker of Maryland and Wagon Wheels enjoyed a rise in branded sales to above 12% of the market, up from 10.5%.

In particular, it saw 44% growth for Fabulous Cookies, 21% growth in Chocolatey, 12% growth in Maryland and 10% in Wagon Wheels.

International sales also rose 8%, and the supplier is now eyeing further growth in Europe, Asia and Australia.

As a result, overall revenues rose to £595.2m from £289.7m in the previous, shorter, 34-week period.

An improvement in gross profit margin of six percentage points to 15%, driven by new pricing agreed with customers and the benefits of buying in scale, helped adjusted EBITDA rise to £17.1m from a loss of £10.7m.

It made a statutory pre-tax loss of £21.6m, down from £38.5m, largely due to £23.6m of depreciation and amortisation and £10.3m of finance costs.

An FBC UK spokesperson said the results illustrated “the progress the business has made in its integration journey and solidifying its position as the UK’s second-largest biscuit manufacturer”.

“During this period, we continued to invest across our iconic brands, helping to attract new consumers through increased innovation and category leadership.”

The company has continued to see value growth since the end of its financial year, with branded portfolio sales up 20.6% in the year to mid-May 2024, citing Kantar and NIQ data, and posting volume growth of 4.2% against wider market growth of just 1.2%.

The Fox’s Biscuits and Burton’s Biscuits brands were acquired by Ferrero-related holding company CTH in 2020 and 2021 respectively before their 2022 combination to create a single business.