Independent bakery chain Cornish Bakery, one of the UK’s fastest-growing bakery companies, has reported record highs across all elements of business performance in 2022.
The company achieved an EBITDA profit of £4.2m for their full year to May 2022 with an impressive profit before tax of £3.1m, all of this alongside major ongoing investment in new openings. Record Cornish Bakery sales and profit margins were achieved across tourism locations, with a strong recovery evident in the high street and factory outlet centres. Cornish Bakery also participated as partners for the lucrative Commonwealth Games at the NEC, where they now have five outlets.
In line with a stated commitment to internal culture and a motivated and nourished team, Cornish Bakery’s Employee Net Promoter Score moved from ‘good’ to ‘great’, with the company’s lowest ever staff turnover currently being recorded. An industry-leading Net Promoter Score of 57% was achieved across the full estate.
2022 also saw Cornish Bakery’s first full year of operation under the rebrand, orchestrated by Cornwall-based A-Side Design. The subsequent brand roll-out has seen eight high-end refurbishments during Winter of 2022/23. During the year new bakeries were opened in Plymouth Barbican, Beverley, Stamford, Rye, Whitby and Caledonia Park, Scotland and the company is set to open six new branches in Truro, Bakewell, Canterbury, Cheltenham, Harrogate and Bury St Edmunds in the coming months.
Cornish Bakery Founder Stephen Grocutt says, “‘Aim Higher’ is one of Cornish Bakery’s core values, and we just keep going higher and higher. Winning beautifully is very important to us and I draw great satisfaction seeing many happy teams and customers. Bakery is without a doubt now THE new coffee shop and I’m delighted that Cornish Bakery is raising the quality bar across the sector. Just watch us in 2023!”