Warburtons saw profit decline last year as it worked to maintain market share through increased promotions and pricing actions.

The UK bakery said that for the year ended 25 September 2010, profit on ordinary activities after tax was down 32.6% to £12m (US$19.3m) and sales declined 3.6% to £492m, reported just-food.

In a Companies House Report, Warburtons said that its underlying trading performance was "not as strong" as in the previous year.

"The difficult economic environment continued and resulted in an increased level of commercial result through promotions and pricing in order to maintain our market share position," the company said.