Pip & Nut has reported a landmark year, with revenue increasing 50% year-on-year to £26.4m in FY25 and the business moving into operating profit for the first time.
The result marks another major milestone for the founder-led brand, which has grown from Pip Murray hand-mixing her first jars of peanut butter in her kitchen to sell at markets around London, to becoming the UK’s number one nut butter brand. With a growing portfolio of nut-based snacking products taking the brand into new categories and occasions, Pip & Nut is now stocked across all major UK retailers, available direct-to-consumer online and expanding internationally.
Turnover increased from £17.5m in 2024 to £26.4m in 2025, while operating profit reached £251,000, compared with an operating loss of £168,000 the previous year. Having reached EBITDA break-even in FY24, FY25 marked the next stage in the business’s financial development, with strong sales growth, improved gross margins and greater leverage of the overhead base translating into bottom-line profitability.
The business has continued to grow by investing in its core nut butter range while expanding into new categories and occasions. Over the past year, Pip & Nut has built its presence in snacking through products including Stuffed Oat Bars and Protein Bars, which now comprise 20% of the business. Having won listings in all the major retailers, Pip & Nut is the biggest driver of total market growth in cereal bars year-to-date, reflecting the strength of its proposition and growing consumer demand for simple, recognisable ingredients and great taste.
With nuts as the number one ingredient across its entire product range, this expansion forms part of Pip & Nut’s mission to put the nut back into nutrition, championing clean ingredients that are better for people and the planet while making the benefits of nuts more accessible across a wider range of occasions.
Pip Murray, Founder and CEO of Pip & Nut, said:
“Reaching profitability is a hugely meaningful milestone for Pip & Nut. When I started making nut butter in my kitchen, it was because I believed there was an opportunity to do things differently and show people just how exciting, nutritious and versatile nuts could be. A decade on, that belief still sits at the heart of everything we do.
“We’ve always wanted to challenge the category, create products with natural ingredients and make it easier for people to enjoy food that tastes great, is better for the planet, and better for them. This milestone reflects the incredible commitment of our team and gives us an even stronger foundation to keep innovating and building the next chapter of Pip & Nut.”
International growth has also accelerated. FY25 was the first full year of trading for Pip & Nut’s Belgian subsidiary, which supported the company’s expanding European footprint. European turnover increased nearly five-fold in a year, from £148,000 in 2024 to £736,000 in 2025.
Alongside commercial growth, Pip & Nut has continued to invest in the foundations of the business. Average employee numbers increased from 30 to 37 during FY25, with all employees paid the London Living Wage. The brand was recently recognised as one of The Sunday Times Best Places to Work, reflecting its focus on building a progressive, inclusive workplace through policies including equal parental leave, women’s health policies and investment in employee development.
The company is a certified B Corp and continues to focus on building a business that puts people and planet alongside profit, becoming one of the first 20 UK companies to recertify under the higher standards this summer. In 2025, it launched the Pip & Nut Foundation, through which the group donates at least 10% of EBITDA to organisations serving community meals and tackling hunger and loneliness. Since launch, the Foundation has supported the delivery of 200,000 meals via its charity partners, including FoodCycle and World Central Kitchen.
Pip & Nut’s wider sustainability commitments include working towards Net Zero by 2040, investing in regenerative agriculture initiatives and maintaining its commitment to products made without palm oil.
Looking ahead, Pip & Nut will continue to invest in product innovation, strengthen its core range and expand its presence across the UK and key international markets.