Despite this growth, the company recorded its second consecutive pre-tax loss, albeit reduced to £345,000 from £448,000 in 2023.

Managing director William Dean cited significant challenges, including escalating costs for raw materials, wages, and transport, which squeezed profit margins even as gross profit value increased by £327,000. Administrative costs also climbed 12% to £3.1m. Average staff numbers during the financial year dipped slightly from 149 to 143.

However, Dean’s expressed confidence in its future strategy, which includes developing new markets for its own brand and private label offerings. This optimism is bolstered by the February acquisition of rival shortbread firm Duncan’s of Deeside. The deal aims to enhance Dean’s market share in the premium sector and increased the combined workforce to 180. The company plans to leverage the combined expertise and synergies from the acquisition.