Cornish Bakery reports ‘record’ trading as it announces brand extension concept
The Cornish Bakery has reported record trading with sales growing by 24% to £36.4 million in the year ending May 2025.
EBITDA has also shown a large increase with a rise of 32% to £4.5 million.
Subscribe to TRBIn the last six months, the company has opened a further six bakeries and recorded its biggest ever sales week over the Christmas trading period. It has also reported its highest levels of team retention, backed up with another ‘Outstanding’ accreditation in this year’s Great Places To Work survey.
Steve Grocutt, founder and chief executive of The Cornish Bakery, said: “Customers are enjoying our products and service with all categories in like-for-like growth and our Net Promoter Score (NPS) growing to 69.
“Coffee is our outstanding performer, with our recently announced move to Cornish B-Corp Origin already reaping rewards.
“Good news continues with our next profit surge being imminent with us opening the doors to eight more beautiful bakeries by April this year, and lots more in the planning. We’ll also be revealing the refurbishment of four bakeries in the next month.”
Cornish Bakery will shortly be launching a significant brand extension concept called Rise. Three of the upcoming sites will have licenced bakeries extending coffee and bakery lines with additional small plates for brunch and early evening periods. The outlets will also serve Cornish beers from Harbour Brewery and wines from Camel Valley Vineyard.
These bakeries will be larger in scale, with one spanning 3,500 square feet, another offering 196 covers, and a third occupying three floors that will also host art exhibitions.
Speaking of the current unease within the hospitality sector, Grocutt said: The nerves around the Autumn Budget need to stop. I currently see a year of two halves: in the first, post-Budget calm to get things done. And in the second half, holding back to see if we get taxed again. This ceaseless instability and uncertainty is killing off hospitality and just making everything more expensive for our customers. The current trajectory for our wider industry under this Government is simply unsustainable. It does not need to be this way.”
