Fife family bakery chain Bayne’s made record profits last year as it expanded its number of shops.
Newly filed accounts show the company, which celebrated its 70th anniversary last year, has sales of more than £44.4 million in the year to March 31 2024.
This was up from £35.1m the year before, an increase of 27%.
Pre-tax profits rose from £2.1m to £3.4 million during the same period – a record amount for the popular baked goods company.
Joint managing director John Bayne told The Courier this boost to the loyalty of their customers and investment in “high quality products”.
He acknowledged the current economic climate meant trading conditions had been tough.
This includes rises in the costs of ingredients and wages, but he pointed out these were not unique to the food sector.
Bayne’s profit rolls in
Headquartered in Lochore, Bayne’s now has 69 shops across Scotland.
The firm has eyes on further expansion, but not at the expense of Bayne’s local heritage, John said.
He is the third generation of Baynes to manage the company, which rose from humble beginnings in central Fife.
“We are proud of what we achieved in an extremely difficult trading year,” he said.
“This is a direct result of and testimony to the dedication of our colleagues and the loyalty of our customers.
“We will continue to invest in our people and to deliver both high quality products and a first-class service to our loyal customers.
“We believe in our brand and what we stand for as a trusted, family-owned business that is committed to expanding and evolving the range of our products and quality of our customer experience and service.”
Bayne’s product line
Bayne’s are renowned for their baked products and last year scooped a national award for their morning rolls.
They have been steadily expanding their presence in Tayside over the past decade, with seven stores in Dundee, three in Perth and more than 20 in Fife and Stirling.
Bayne’s has expanded in the last five years in the west of Scotland, including a drive-through shop in Glasgow.
It launched as a bakery-focused business in 1954, having originally been set-up by the Baynes in Fife as a butchers.
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