The "extraordinary" financial performance of high-end supermarket chain Booths will be halted by the cost-of-living crisis, its boss has warned.
Chairman and chief executive Edwin Booth said he has "no doubt" the rapid rise in inflation will hit the company's sales and profits in the 12 months to April 2023.
He added that "it will come as no surprise that there has been a reduction in volume sales" at the Lancashire-headquartered company, which can trace its roots back to 1847.
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The warning has been included in newly-filed accounts for the chain's financial year to April 2, 2022.
The documents show the company's turnover increased from £284.1m to £296.7m while its pre-tax profits grew from £1.8m to £3m.
The pre-tax profit Booths achieved in the prior financial year was the first time it had been in the black since March 2015.
Mr Booth said: "As I write, inflation is nearing 10% and will likely continue to rise.
"It will come as no surprise that there has been a reduction in volume sales and we are keeping a very close eye on the differential between volume and retail sales values.
"In addition, the board has been swift to determine actions to mitigate costs in such a way to protect the intrinsic value of the Booths offer.
"Just as with the advent of the pandemic, we are being fleet of foot to recognise difficulties and address them swiftly as they arise.
"I am in no doubt that the financial performance of the business will not be as extraordinary as in the past two years, however we will take every opportunity to present Booths' customers with the best value possible and ensure that we look after both their plates and pockets."
The company, which is still run by the Booth family, serves Cumbria, Lancashire, Yorkshire, Greater Manchester and Cheshire.
The number of employees fell during the year from 3,208 to 3,008, having risen from 3,076 in the prior 12 months.
On its most recent financial year, a statement signed off by the board said: "The last 12 month saw the continued effects of Covid-19 whereby performance was again mixed.
"The board though are pleased to report that the immense effort by the team to adapt, improvise and overcome the changing landscape in which we operate resulted in a net positive position again for the company."
It added: "Trading patterns were mixed, aliened to lockdowns and changing government advice. These continued to affect out café operations throughout the year, but we did see a resounding bounce back in performance around our 'Lakes' stores with accommodation much sought after once domestic travelling restrictions eased across the country.
"Overall, and excluding non-comparable Easter periods, performance showed above market growth again with underlying like-for-like sales growth continuing since August 2019."
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