Thatchers hails an increase in sales despite the cider manufacturer experiencing “unprecedented economic challenges” during its latest financial year.

The cider brand experienced a dip in pre-tax profit of £15.6m, down from £16.8m, but saw its sales increase to £175.2m for the year to August 31, 2023, up from £155.5m.

Other changes in the company include the average number of employees rising from 221 to 253.

Despite the rising sales Thatchers said it recognised the company had battled headwinds this year, which it blamed on “difficult market conditions”.

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It added: “The directors believe the company is well positioned to manage continuing difficult market conditions with an emphasis on the production of premium ciders to the highest quality standards.

“The strategic direction of the company is regularly assessed by the directors to ensure it remains aligned with market and consumer expectations.

“The directors recognise Thatchers has a strong market position and will continue to invest in the company’s growth across on and off trade as well as export.”

The latest result follows Thatchers earlier this year losing a legal battle against Aldi, with the High Court dismissing its claim that the discounter had breached its cloudy lemon cider trademark.