Waitrose has donated almost £3 million to charity from profits generated by the sale of Duchy Originals, it has been revealed.
Duchy Originals Ltd‘s 2012 accounts revealed that the company made an annual profit of £3.23 million, almost £2.9 million of which was given to the Prince of Wales‘s Charitable Foundation and the Countryside Fund.
In a deal made when Waitrose acquired exclusive trading rights to the Duchy Originals brand in 2009, the retailer promised to invest in the company and to pay £1 million to the Duchy every year.
This latest donation has far exceeded that, as the financial accounts revealed that annual profits were up by a third.
The Prince of Wales‘s Charitable Foundation has supported the Soil Association and the Rare Breeds Survival Trust in the past, as well as providing small grant to numerous grass roots and community projects including conservation projects in Lancashire, education projects in Gloucestershire and the Shop Front Appeal in Cumbria.
Commenting on the financial results, Waitrose‘s Managing Director, Mark Price, said: “These figures reflect an extremely successful year for Duchy Originals from Waitrose, meaning that we have significantly exceeded our original £1 million commitment.”
The Duchy Originals range, which includes bacon, preserves and beer, is popular with customers across the UK, and is also sold overseas in such countries as Belgium, Japan, Australia and Taiwan.