LIVERPOOL CITY REGION’S BAKER & BAKER REPORTS £380 MILLION TURNOVER
Liverpool City Region headquartered bakery products manufacturer Baker & Baker has posted “strong” financial results, which it said underlines an “encouraging” business outlook.
The standalone European business reported turnover of £380 million and growth of 14 per cent during the first 12 months of operation.
The company has achieved the results despite a backdrop of rising commodity prices and fluctuating Covid-19 restrictions throughout Europe in 2021.
It credited its “agile” business model for being able to overcome the challenges and “demonstrate a clear path for future growth”.
Baker & Baker supplies sweet bakery products within the retail and food service segments across all key European markets.
John Lindsay, chief executive of Baker & Baker, said: “Our first year as Baker & Baker has been an incredible journey. Successfully completing a complex business separation during normal market conditions is challenging, but considering raw material inflation and the impact of Covid-19, we have demonstrated considerable resilience and agility to deliver an impressive financial performance.
“The expertise, commitment and hard work demonstrated by our colleagues during a turbulent period has also been critical in driving this growth.”
Looking ahead, Lindsay added: “Our priorities for the forthcoming 12 months are to build on these solid foundations, with further investment in NPD and product extensions, growing our footprint in emerging markets and maximising the potential of our licensing range with Mondelez.”
For more Liverpool business news, click HERE.