Walker’s tops £200 million sales for first time – Daily Business

Walker’s Shortbread has reported top-line sales of more than £200 million for the first time, driven by a strong festive period last year.

The Aberlour-based business saw revenue hit £201m in the year ending 31 December, marking a 9% (£17m) increase on the previous 12 months. Pre-tax profit rose to £18m from £14.8m.

The 127-year-old family firm said there had been a positive market response to a refreshed brand identity.

Solid Christmas sales, particularly in the UK, rose 13.4%. while healthy international markets reported an increase of 5.8%, with the US remaining a key market for the brand.

The company was able to manage ongoing challenges from supply chain costs, inflation in key ingredients and rising labour costs and logistical hurdles.

As part of its long-term strategy, the board has continued to invest significantly in the business to improve operational processes, efficiencies and methodologies.

These efforts, coupled with working closely with suppliers, drove a £3m (23%) increase in operating profits to £16.1m. While the business’s operating margin grew to 8%.

It recently signed up tennis legend Andy Murray to help promote the brand. An advertising campaign with Murray was launched in time for Wimbledon with the tagline “A wee bit of Scotland that’s come a long way”.

Nicky Walker, managing director, said 2024 was an encouraging year for Walker’s Shortbread.  “To exceed £200m in sales is an incredible achievement for the business and this milestone is testament to the continued hard work and commitment of our workforce.

“We are increasingly focused on protecting the business to ensure generations to come can continue to enjoy ‘Scotland at its Finest’.

“We are pleased to see some of the improvements and efficiencies we have made internally working in conjunction with our brand revitalisation which has undoubtedly aided our commercial operations, having a positive impact on performance.”

He said despite the growth the company was maintaining a pragmatic and cautious outlook, as it continues to manage external political and economic factors putting pressure on the business, its supply chains and customers.

“2024 was also a poignant year for the business following the extremely sad and sudden passing of Sir James Walker in December,” he added.

“This sadly marked the end of the third generation of the family whose leadership and vision were instrumental in shaping the business into the world-renowned brand it is today.

“We will continue to honour their legacy as we plan for the future and as always, we are committed to serving our customers, employees, stakeholders and the local Speyside community from our home in the heart of the Scottish Highlands.”