Sayers sales and profits fall in ‘challenging’ year

first_imgConsumer uncertainty following the Brexit referendum made for a challenging financial year, Sayers the Bakers has reported.The retail bakery chain, which operates around 170 shops and employs more than 1,600 staff, announced a drop in operating profit from £601,000 the previous year to £4,000 in its financial year ended 30 September 2016.Following interest payments and other charges, the business posted a post-tax loss of £101,000 compared with a £351,000 profit the previous year.Sales at the Bolton-based business, which trades under the Poundbakery, Poundcafé and Sayers brands, dipped 2.4% year on year, from £49.7m in 2015 to £48.5m.In its accounts, presented at Companies House, the business said: “Retail businesses have encountered a challenging year, largely as a result of the Brexit referendum announcement and subsequent consumer uncertainty.”Sayers added that sales had recovered steadily in the past few months.“The focus this year has been improving the business following a period of rapid growth and the introduction of the national living wage.”Looking ahead, the business said commercial risks included unexpected significant increases in raw material, fuel, electric and/or gas prices.last_img read more