CRAIGAVON-based WD Irwin & Sons, the north's largest independent bakery, swung back into profit in the last year, figures show.
The company, famous for brands such as Nutty Krust, generated a profit of £117,386 in the year to the end of March. That compared to a £128,574 loss in the previous trading year.
It came on a generally flat turnover (up a shade from £29.66 million to £29.85 million), though the company's gross margin rose to 29 per cent, which ranks as one of the best margins in its sector in the UK.
The directors, however, warned that trading conditions remain "very competitive", particularly within the multinational retail grocery sector, which it says can "create uncertainties".
But they insist they have every expectation that the company's financial performance will improve over the remainder of the year.
Irwin's supplies its range of breads to the likes of Tesco, Asda, Sainsbury's, Henderson Group, Musgrave Group and independents, while it also supplies to Morrisons, Waitrose, Tesco and Sainsbury's in Britain.
During the trading year it also spent £40,000 on rebranding its Howell's Handmade range of bun products, which included the creation of eight new lines of biscuits, cakes and cupcakes.
The investment saw the name changed to Howell's and include the purchase of a new labelling machine which Irwin's said would improve overall efficiency, drive volumes and increase production capacity.
According to figures filed at Companies House, Irwin's employed 337 staff during the year, most in production. This was slightly down on the previous year, which in turn reduced its wages bill from £8.5m to £8.2m.
Its highest-paid director saw his overall benefits package rise from £93,712 to £102,893.
The group has also significantly reduced its liabilities over the last year from just over £4m to £2.4m.
Irwin's was founded in 1912 by W.D. Irwin and his wife Ruth in Portadown, and it remains a family-run business, with the original founder's grandsons Brian and Niall Irwin still playing an integral role at the bakery.
