The firm which claims to be the world’s oldest Cornish pasty maker has reported a turnover hike to £14.6 million – but still made a small loss for the year – and is now selling vegan pasties.
Warrens Bakery is headquartered in Penzance but has a significant Plymouth operation, with about 10 outlets in the city.
Its latest accounts, for the year to June 2016, reflect what it describes as continued success from its rebranded stores.
Warrens Bakery is now predicting growth in 2017 thanks to the launch of its franchise business and new outlets, with new products already on sale.
Its accounts show turnover increased to £14.6 million from £13.6 million in 2014/15.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to £622,551 from £404,979 and pre-tax losses fell to £10,958 from £53,530 in 2014/15.
The company has continued a programme of store rebranding, with 42 outlets completed at the end of the financial year and the remainder before Christmas 2016.
A new store in Bristol opened in March 2016 and Warrens launched its sister brand Fresh from Warrens during the year.
In 2016, it was voted Cornwall’s favourite pasty maker by the public in four independent radio and newspaper polls, won The World Pasty Championship and picked up a Highly Commended honour and a gold award at The 2016 British Pie Awards.
The company was founded in 1860 and trades from more than 50 stores across the South West.
Alongside pasties, it also produces a range of savouries, breads, cakes, scones and sweet bakery products.
In February 2016, it launched its first vegan pasties on the back of a huge surge in people giving up meat and dairy produce.