Warburtons: Profits double at family-owned baker

Bolton / UK. (wbl) Family-owned baker Warburtons Limited doubled its profits to 32 million GBP last year following a 15 percent rise in sales to 510 million GBP, according to newly-filed accounts. The results were announced after the bakery group talked about job cuts earlier this year as part of a move that will see it build a new 25 million GBP bakery at its Bolton headquarters. The company said its operating performance was «solid», despite a difficult trading environment. Warburtons employs more than 4’230 people at 13 bakeries and ten depots across the country and produces more than two million products every day. «Warburtons´ financial results for 2009 are in line with expectations and the board views the outcome as satisfactory in a challenging economic environment», the company said in a statement. According to British newspapers the family-owned baker announced it was cutting 121 jobs at its main Bolton site in January – although it recently said this number had been reduced with 45 staff taking voluntary redundancy or early retirement.