British jam maker Duerr’s chalked up record profits last year as the easing of inflation was coupled with sustained sales growth.
Pre-tax profits leapt from £385k to £4.1m for the year ending 31 March 2024 as ingredients costs grew more consistent and energy costs fell significantly, the company said in its latest accounts.
Turnover rose 11% to £84.5m with the company now forecasting further growth for the year ahead.
F Duerr is the oldest family-owned jam maker in the UK, now in its fifth generation of family management. The business supplies jam, marmalades, and peanut butter under the Duerr’s brand, as well as own-label.
Duerr’s called it a “vastly improved sales and profit result” after several difficult years. It slipped to a £1.1m loss in 2022 as price rises failed to compensate for widespread inflation across its cost base.
But it is now back at “pre-Covid levels of financial performance, giving a strong foundation for further improvement”.
That will not be easy, however, with Brits buying less jam every year. Volumes fell 2.9% in the 12 months to September 2024 with many major brands suffering as a result, according to The Grocer’s Top Products survey. That built on a 4.3% volume decline the year before.
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