This steady performance underpins a newly announced strategic roadmap, which will see the company invest £11m over the next five to eight years to double its retail footprint.

The family-owned business reported a record-breaking year, with turnover rising by 15.3% to £51.3m. Currently operating 71 shops across central Scotland supported by its headquarters in Fife, the company plans to open three to four new shops annually. This growth will be supported by a multi-million-pound expansion of the Orwell Bakery hub in Lochore.

“Our plans represent a long-term investment in the future of Bayne’s as a family business,” said John Bayne, joint managing director. “Over the next five to eight years, we intend to invest around £11 million in a way that is responsible, sustainable, and firmly focused on the long term.”

Despite facing rising costs for ingredients, wages, and energy, the company expanded its workforce to 963 employees, with aggregate staff remuneration increasing to £22.5m. “Our people are the backbone of the business,” Bayne added, noting that sustainable growth depends on investing in the skills and wellbeing of their teams.

The directors remain focused on long-term value creation and addressing operational risks to safeguard the company’s future. Alongside economic growth, the bakery improved its environmental sustainability, reducing its carbon intensity ratio from 56.7 to 51.9 tonnes of CO2 per £1m of turnover. The business also continues its social responsibility efforts through contributions to food banks via the Trussell Trust and The Bayne’s Charitable Trust.