The North Yorkshire-based tea and coffee group achieved steady sales growth across the UK last year and reported improved sales in the US and international markets, despite ongoing macro-economic pressures
Bettys & Taylors of Harrogate operates five Bettys Café Tea Rooms alongside packaged coffee and tea brands | Photo credit: Bettys & Taylors of Harrogate
Bettys & Taylors of Harrogate, which operates five Bettys Café Tea Rooms and owns the Taylors of Harrogate packaged coffee and Yorkshire Tea brands, has reported record full-year sales in the face of difficult trading conditions.
Group sales increased 3.1% to reach £260m ($322m) in the 12 months ended 31 October 2022 — the second successive year in which sales exceeded £250m ($309m).
Sales growth was achieved across all three business units, with UK revenues, which accounted for 93% of total sales, increasing 2% to £240m ($297m). Additionally, US sales grew 7% to £11.1m ($13.7m) and revenues in Bettys & Taylors of Harrogate Rest of the World segment increased 46% to £8.8m ($11m).
However, Bettys & Taylors of Harrogate said pre-tax profit fell from £10.3m ($12.7m) in the same period of 2021 to £9.9m ($12.2m) following ‘difficult trading conditions’.
Director Clare Morrow cited the strength and value of the pound, which reached all-time lows during the reporting period, as directly impacting the group’s tea and coffee businesses.
Bettys was founded in Harrogate, North Yorkshire, in 1919 and purchased Taylors in 1962. The tea and coffee group also operates Bettys Craft Bakery and Bettys Cookery School.