North West bakery chain Sayers slipped to a loss last year after it said Brexit had shaken consumer confidence.
The baker reported a 2.3% fall in headline sales to £48.5m in the year to 30 September 2016 amid a “challenging year” for the business.
Operating profits fell to just £4k from £601k in the previous period, while interest and other related payments meant it posted a pre-tax loss of £114k from a pre-tax profit of £493k last year.
In the accounts, Sayers said the tough retail conditions were “largely as a result of the Brexit referendum announcement and subsequent consumer uncertainty”. However, it said trading had “recovered steadily in the last few months”.
Sayers said its strategic focus had shifted to improving its business following a period of rapid growth for the chain and the introduction of the national living wage.
Sales had previously grown by 9.5% in its 2015/16 financial year and by 7.1% in the previous annual period.
The group has made a pre-tax profit of £493k and £469k in the previous two yearly accounts, but made an £82k pre-tax loss in 2012/13.
The chain was established in Liverpool in 1912 and currently employs more than 1,600 staff.
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