JAM-MAKER Wilkin and Sons suffered a £1.8million loss in the last financial year, despite seeing a jump in sales.
The loss follows a £1.1million profit the previous year, but sales were up from £48.1million to £53.5million.
Walter Scott, chairman of Wilkin and Sons, said "virtually all" of the company's issues were due to rising energy costs.
He said: "The words in the report for 2022 - 'we may not be so lucky next year' - proved to be prophetic. We have posted a loss for the first time in my memory."
Loss - Walter Scott, chairman of Wilkin & Sons, said this was the first loss he had in his own memory (Image: Tiptree)
Sales hit a record high last year, with exports reaching £10million for the first time.
The unprecedented rise in energy costs meant Wilkin and Sons had to switch from three-year to two-year contracts.
The increasing costs of raw materials, including glass and packaging, has meant that the company has shrunk the size of its Tiptree marmalade jars from 454g to 340g, while keeping the price about the same.
Royal - Queen Elizabeth II during her 2010 visit to Wilkin & Sons (Image: Doug Blank)
Wilkin and Sons submitted a planning application to Colchester Council in 2023 for solar panels to help save energy costs and cut its carbon footprint.
The company, which also hopes to become carbon neutral in the future, saw the plans to produce renewable energy approved by the council.
The installation will be carried out in in two phases, with the first stage providing 10,380 panels and the second phase providing a further 5,000.
The solar farm will generate up to 6.15MW of renewable energy for as long as 25 years.
The company has been the proud holders of a Royal Warrant from the reigning monarch since 1911.
Queen Elizabeth II visited the Tiptree factory in 2010 to celebrate the company's 125th anniversary of jam-making making at the site.
The Queen's association with marmalade became even more well-known after a video released for her platinum jubilee in 2022 showed the monarch bonding with a CGI Paddington Bear over marmalade sandwiches.
That led to many mourners for the late Queen in September 2022 leaving marmalade sandwiches outside both Buckingham Palace and Balmoral Palace.
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