Gluten-free demand drives Nairn’s Oatcakes profit increase

Nairn’s Oatcakes has reported a pre-tax profit increase to £4.2 million for the year ending 18 May 2024, up from £3.5m the previous year.
This growth occurred despite “challenging” trading conditions, including squeezed consumer spending and cost inflation.
Total sales rose to £47.5m, from £43.8m. Directors credited this performance to “strong financial performance with year on year sales growth and partial recovery of profitability”, noting a late-year improvement in consumer demand, particularly for gluten-free products, and stabilisation of input costs.
However, the firm highlighted the “adverse impact” of increases in the National Living Wage, which will rise to £12.21 per hour in April. The company’s workforce increased to 231 employees, up from 226.