The Bettys & Taylors Group reported a record performance in their latest financial results. The "robust financial position" should help her to cope with the Covid-19 pandemic.
The Harrogate-based group includes six Bettys Café tearooms, Bettys Craft Bakery, Bettys Cookery School, Bettys Mail Order and the tea and coffee retailer Taylors of Harrogate, which produces Yorkshire Tea, a selection of freshly ground coffee and specialty teas. It employs 1,598 people.
Revenue rose 9 percent to £ 227.4 million for the fiscal year ended October 31, 2019. Operating profit was GBP 15.8 million, GBP 4.6 million higher than the previous year.
At the end of fiscal 2019, Yorkshire Tea had an annual value share of 28.7 percent, which was promoted through the “Where Everything Is Done Right” campaign with Yorkshire celebrities like Sean Bean and Dynamo, as well as through a partnership with the UCI Road World Cup.
Taylors of Harrogate had a 21.7 percent share of the filter, cafetière and espresso coffee market.
Significant investments in buildings, systems and people were also made in 2019, including the opening of a new mixing hall at Taylors' tea and coffee factory, the installation of new coffee bag lines and mixing equipment.
Paul Cogan, Director of Corporate Finance and Resources, said: "We started fiscal 2019 with tremendous uncertainty. We had a centenary, but we were in a challenging market with rising costs and uncertainty about Brexit.
"The year exceeded our expectations and delivered a strong performance across the Group. This reflects the fact that our customers continue to appreciate the commitment to quality and service that has been important to us throughout our 100-year history.
"2020 was clearly not the start we had planned for our second trading century and, like many others on the high street, we were faced with significant challenges and changes that will continue to shape our business in the future.
"While we can't be complacent, we believe that our robust financial condition, the dedication of our employees, the loyalty and affection of our customers, and our strong values for family businesses will help us navigate these turbulent times."
The Bettys business was founded in Harrogate in 1919 by Swiss pastry chef Frederick Belmont and bought Taylors in 1962.