Late Queen’s favourite marmalade maker Tiptree, which also makes jams and sauces, posts £1.8million loss
Tiptree, the late Queen’s favorite marmalade maker, has announced a £1.8 million loss in the last financial year.
The company’s latest accounts show the loss followed a profit of £1.1m last year, despite a rise in turnover from £48.1m to £53.5m.
Walter Scott, chairman of Wilkin & Sons, which owns Tiptree Marmalade, said “almost all” of the company’s problems were due to rising energy costs.
The company was founded in 1885, but traces its roots back to 1757, when the founding family started farming in Tiptree, Essex.
It now makes a range of condiments including tomato sauce and mayonnaise, as well as fruit preserves such as marmalade.
Tiptree, the late Queen’s favorite marmalade maker, has announced a £1.8 million loss in the last financial year. Pictured: Queen Elizabeth II talks to staff members during a tour of the Wilkin & Sons Jam factory on October 28, 2010 in Tiptree, Essex
The chairman of Wilkin & Sons, owner of Tiptree Marmalade, said ‘almost all’ the company’s problems were due to rising energy costs.
The company was founded in 1885, but traces its roots back to 1757, when the founding family started farming in Tiptree, Essex. Pictured: Tiptree Jam factory in Tiptree, Essex, in 2019
The company has been a royal favorite since it was first granted a royal warrant in 1911 George V – retained by successive monarchs since then.
The late Queen visited Tiptree’s factory in 2010 to celebrate the company’s 125th anniversary at the site.
During the visit she toured the jam factory to see workers de-stemming mulberries, scooping out the cores of oranges and applying the finishing touches to Christmas puddings.
The late queen’s association with marmalade grew after a video released for its platinum anniversary in 2022 showed her bond with Paddington Bear over their shared love of marmalade.
After her death in September 2022, many mourners left marmalade sandwiches for her outside Balmoral and Buckingham Palace, in a nod to her love of the property.
Mr Scott said: ‘The words in the 2022 report ‘we may not be so lucky next year’ proved prophetic: we have posted a loss for the first time in my memory.
The company now makes a range of condiments, including tomato sauce and mayonnaise, as well as fruit preserves such as marmalade
The late queen’s association with marmalade grew after a video released for her platinum anniversary in 2022 showed her bonding with Paddington Bear over their shared love of marmalade
The late queen met Paddington Bear in a sketch that opened the BBC’s palace party and marked her 70 years on the throne
After her death in September 2022, many mourners left marmalade sandwiches for her outside Balmoral and Buckingham Palace, in a nod to her love of the property.
A marmalade sandwich left outside Buckingham Palace after the Queen’s death
‘Despite these results, everyone has worked hard to alleviate these problems. I am sure Winston Churchill would have a fitting saying for the adversity we faced and the way we dealt with those adversities,” he said. The Telegraph.
The latest financial news follows warnings last year from Wilkin & Sons that the company was facing turbulence due to energy costs after being forced to switch from three-year to two-year contracts.
It is clear from the company’s accounts that the problem is due to the unprecedented rise in the energy sector, but also the cost of raw materials, including glass and packaging.
Rising costs have already prompted the company to reduce the size of its Tiptree marmalade jars from 454 grams to 340 grams, while keeping the price virtually the same.
Despite the losses, Mr Scott said there was some hope as sales hit a record high last year and exports reached the £10m mark for the first time.
