Substantial growth for West Cornwall Pasty Co
In the year to 25 March, total sales reached £13 million while EBITDA rose by 85% to £1.02 million.
Executive chairman Chris Peck said: “West Cornwall Pasty Co is a brand in high demand, our strategic shift towards a profile raising lifestyle approach has influenced a robust fast track growth plan especially in the travel and sports sector with a proven track record of significant impact.
“Continued investment into strong communication and engagement with our expanding customer base, innovating with new headline products and exciting new generation store refurbishments has placed the spotlight well and truly on all brand activity both digitally and at store level.”
The company has been targeting new sales channels such as retail designer outlets, motorway service areas, petrol stations and sports venues. This has included the signing a new contract with Welcome Break to supply cooked chilled branded products across its entire Waitrose estate.
While it continues to develop its presence in travel locations, the company plans to open new generation railway station sites in Preston and Surbiton, followed by new units in Norwich, Peterborough and Southampton stations. The brand is also in discussion with a number of airports.
The company has recently launched an extended product range at its store in Canterbury which now sells freshly made sandwiches and a luxury range of cakes. This has resulted in the sales at the store rising by 50% on last year. The second West Cornwall Food Co opened in August in Chichester. A roll-out of the concept is planned for 2016/17 in a number of other high street West Cornwall Pasty Co stores.
Peck added: “We are pleased with the results so far; since the year end trading remains very robust with LFL sales up in double digit growth. We expect another year of substantial profit growth, as we continue to innovate and engage with current and new customers. Our aim is, as ever to maintain quality products which are excellent value for money and to further inspire customers to engage with and enjoy the new direction of the brand.”
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