Walker’s Shortbread has reported record results, with sales topping £200million for the first time in its 127-year history.
The Aberlour-based firm posted revenues of £201million for the year ending 31 December 2024 – up 9% on the previous year – driven by strong festive trading in the UK and steady growth overseas. Domestic sales rose 13.4%, while international markets grew by 5.8%, with the US remaining a key market.
Operating profits rose 23% to £16.1million, with margins improving to 8%, despite rising ingredient, labour and logistics costs.
Managing director Nicky Walker said: “2024 has been an encouraging year for Walker’s Shortbread. To exceed £200million in sales is an incredible achievement for the business and this milestone is testament to the continued hard work and commitment of our workforce.
“As a business we are proud of our rich history and heritage and we are increasingly focused on protecting the business to ensure generations to come can continue to enjoy ‘Scotland at its Finest’.
"We are pleased to see some of the improvements and efficiencies we have made internally working in conjunction with our brand revitalisation which has undoubtedly aided our commercial operations, having a positive impact on performance.”
He added: “Despite significant growth this year, we are maintaining a pragmatic and cautious outlook, as we continue to try to manage external political and economic factors putting pressure on the business, our supply chains and our customers."
Despite the strong figures, the year also carried a note of sadness for the company, with the loss of Sir James Walker in December.
Nicky Walker added: "This sadly marked the end of the 3rd generation of the family whose leadership and vision were instrumental in shaping the business into the world-renowned brand it is today.
"We will continue to honour their legacy as we plan for the future and as always, we are committed to serving our customers, employees, stakeholders and the local Speyside community from our home in the heart of the Scottish Highlands.”