Co Londonderry baking company reports sales rise
The Co Londonderry baking company behind Genesis Crafty has reported an 11% sales increase to £15m.
However, pre-tax profits were down from £1m to £588,000 in the year to October 26 2014.
But in a strategic report, McErlain's Bakery in Magherafelt, which is run by the McErlain brothers, said performance would improve.
"The company believes that performance will continue to improve as a result of ongoing research and development into new products," the report said. "The directors anticipate that 2015 will generate greater turnover than 2014 due to new contracts and product lines with existing customers and an increased gross profit margin will be achieved."
The company's buns, cakes and breads are sold at major retailers such as Ocado, Waitrose and Sainsbury's as well as independent symbol groups such as Centra, Costcutter and Spar.
The company mainly trades in the UK and business in the Republic is limited.
It makes own-brand products for retailers like Marks & Spencer as well as its own products under the Genesis Crafty brand.
The company made charitable donations of £9,320 during the year. Staff numbers also grew from 203 to 243 during the year. The majority of the staff (174) are employed in production while 43 work in sales and distribution.
Salaries - including the remuneration of its directors - totalled £4.1m.