Bread firm’s profits rise

Breadmaker McCambridge’s was making lots of dough again in 2013 with pre-tax profits increasing more than four-fold to €1.68m.

New accounts show that McCambridge’s recorded the large jump in profits in spite of gross profits declining by 8% from €3.92m to €3.59m in the 12 months to the end of June 29, 2013.

The lower pre-tax profits in 2012 of €386,096 arose chiefly from exceptional costs of €1.4m that arose mainly from the waiving of a €1.25m inter-company loan. The accounts show the bill to McCambridge’s in its legal battle against rival Brennans almost tops €476,000.