West Cornwall Pasty Company has seen earnings before tax increasing 85%, as the company continues its financial turnaround. Underlying like-for-like sales for the year to March 25th rose 7.6%, with sales totalling £13 million.

The company went into administration almost two years ago, a victim of George Osborne’s ‘pasty tax’, before being sold to a private equity firm backed by former England footballer Danny Mills. Since then, it has seen success from a new strategy of targeting sports venues and expanding its coffee range to widen its appeal.

West Cornwall Pasty executive chairman Chris Peck commented: “Especially in the travel and sports sector with a proven track record of significant impact. Continued investment into strong communication and engagement with our expanding customer base, innovating with new headline products and exciting new generation store refurbishments has placed the spotlight well and truly on all brand activity both digitally and at store level.

“We expect another year of substantial profit growth as we continue to innovate and engage with current and new customers.”