Duchy Originals from Waitrose is expected to generate well over £1 million for charity in its full first year of trading following the successful re-launch of The Prince of Wales’s organic food business.
Since the re-launch in September 2010, sales have increased by 133 per cent. Under the new management arrangements, the range has expanded to more than 240 products with bacon, preserves and beer proving especially popular with customers throughout the country. Duchy Originals from Waitrose has also proved popular overseas. Products are being exported to more than 13 countries worldwide including Belgium, Japan and Australia.
Mark Price, Managing Director of Waitrose, said: “These figures reflect an extremely successful start for Duchy Originals from Waitrose and we look forward to announcing next year that the charity donation for our first 12 months of trading has significantly exceeded our £1million commitment.”
Today’s results are contained in the 2011 financial accounts for Duchy Originals Ltd, which is the company that holds the licensing agreement for the brand.
A donation from the sale of all products is given to The Prince of Wales’s Charitable Foundation, a grant giving charity; and to the Countryside Fund, which supports Britain’s hard-pressed rural communities.
The accounts show an annual profit of £2.25 million, of which £625,293 was donated to charity. The remainder will be used to pay a loan the company received to cover losses incurred in previous years during difficult trading conditions. The 2010-2011 results include only eight months of trading under the new Duchy Originals from Waitrose brand. The first full year of trading with Waitrose will be reported in the 2011-2012 results and an amount well in excess of £1 million is expected to be donated to charity in 2011-2012 and in future years.
NOTES TO EDITORS Duchy Originals was founded by The Prince of Wales in 1990 with an aim that every product “is good, does good and tastes good”. Duchy Originals and Waitrose believe in the value of organic food, grown and produced sustainably. Since its inception, it has donated more than £8 million to charitable causes.
The Duchy Originals Ltd 2010-2011accounts are available via Companies House: www.companieshouse.gov.uk.
The following 2010-2011 financial accounts have also been published today:
The Prince of Wales’s Charitable Foundation The Prince’s Charities Events Ltd Dumfries Farming and Land Ltd Dumfries Estate (Orchardton) Ltd
The 2010-2011 accounts for The Prince of Wales’s Charitable Foundation (PCF) show that is has been an incredibly strong year for the PCF with donations up from £4.7 million to £12.2 million. The accounts also reveal that the £20 million loan to support the purchase of Dumfries House has been significantly reduced and that as of March 2011 there was £5.5 million left outstanding. This has since been reduced further and the current figure stands at £3.5 million.
It has also been an excellent year for A..G.Carrick, the commercial arm of the PCF, which this year made its largest ever donation to the PCF as a result of a successful 12 months for the Highgrove shops and the Highgrove garden tours.