Gail's bakeries sees turnover increase to almost £40m

Gail's bakeries have seen turnover increase to £38.8m as the business continues to eye expansion.

Financial results for the year to 28 February 2018 showed the increase in turnover from £30.6m the previous year. The company recorded pre-tax profits of £691,280, compared to a loss of £608,358 the previous year.

Parent company Bread Holdings, which also incorporates a number of wholesale bakeries, reported pre-tax profits of just over £1m, down from £3.4m the previous year.

The company, which lists entrepreneur Luke Johnson as a director, had been rumoured to be considering the sale of Gail's bakeries, but this is believed to have been put on hold.

Gail's operates in nearly 50 sites after first opening in London in 2005. Johnson first invested in the firm in 2011.

Gail's bakery sale delayed in further issues for Luke Johnson>>

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