Bettys sales defy the recession

TEA and coffee maker Bettys & Taylors saw sales rise by 15% in 2009 despite the gloomy economic picture, according to its latest directors report.

The company registered sales of almost £89m but these gains were swallowed up by an increase in the price of raw materials and currency fluctuations that left the Harrogate-based firm with a slight drop in profits.

Pre-tax profits for the year to October 2009 were £7.7m, down from £7.954m in 2008, while profits after tax were down two per cent at £5.63m.

In the report, lodged at Companies House, the directors indicate their determination to continue investing despite the uncertain economic outlook, committing £3.9m to capital projects following a £7.4m capital investment in 2008.

The company’s success benefited charities to the tune of £289,000 with the largest donation of £100,000 channelled through the group’s Yorkshire Rainforest Project.

Last year was the 90th anniversary of the founding of Bettys and its continuous ownership by the same family.

Dividends worth £565,000 were paid to three family trusts and 10 family shareholders.

Workers shared £2.1m through the company’s profit-sharing scheme.

Bettys & Taylors declined to comment on the report.