According to its annual financial statements for the year ended December 31, 2023, filed with Companies House, the company’s turnover grew 1% from £118.5 million in 2022 to £119.8 million last year.
Krispy Kreme UK reported sales growth in its takeaway and e-commerce channels, and the company continued to refine and grow its daily fresh delivery (DFD) business, which enables consumers to order doughnuts through Deliveroo, Just Eat or UberEats.
The company also increased its store count over the past year, from 125 to 129 retail stores.
Meanwhile, operating profits rose from £5 million to £6.1 million in 2023, but EBITDA fell from £16.8 million to £16 million due to increased labor costs.
Krispy Kreme said it had been impacted by economic challenges, including a cost of living crisis hitting consumer disposable income, inflation impacting input costs and labour shortages. Measures taken over the past year to mitigate these impacts included locking in supply contracts, increasing staff wages, reducing overheads and increasing product prices.
“The directors are pleased that the company has continued to strengthen its market position in 2023, with a strong portfolio of retail stores, successful partners and diversified market channels, demonstrating its resilience and ability to maintain high profitability and cash flow generation,” Krispy Kreme said in a statement. It added that plans for 2024 include opening stores in prestigious locations, expanding business with existing and new DFD partners, further investing in digitally enhanced shelves and expanding coverage through digital channels.
In an interview with UK Bakery Magazine in March, Jamie Dunning, president and managing director of the UK and Ireland region at Krispy Kreme, outlined how brand partnerships and convenience retail will play a key role in the coming months.
Related topics：