STRONG growth in global appetite for its teacakes and caramel wafers saw iconic snack group Thomas Tunnock enjoy a double-digit sales rise last year.
The Uddingston-based firm – whose products played a starring role in this summer’s Commonwealth Games opening ceremony, pictured – saw turnover rise by 13 per cent to £47.8 million in the year to 28 February with pre-tax profits rising 7 per cent to £6.48m.
UK sales rose by 14 per cent to £38.8m and in the rest of the world grew by just under 12 per cent to £9.1m. Staff numbers dipped to 489 from 514 but sales per employee rose to £98,000 from £82,000.
Tunnock’s exports to more than 30 countries, and its confectionery is particularly popular in the Middle East where it enjoys the advantage of a higher melting temperature than other chocolate-based products.
The Tunnock family, who own the business which started in a baker’s shop in 1890, received a dividend of just over £1m during the year after not taking any the previous year. Some £3.3m was invested in new plant which the company said was “essential to maintain our position at the forefront of the market”.
SUBSCRIBE TO THE SCOTSMAN’S BUSINESS BRIEFING