GREENOCK bakery firm Aulds gained almost half a million pounds through the closure of its shops.

The figure emerged in its latest accounts, which show the company narrowed its losses in the year which saw its retail business slashed.

The company scaled back its shops with the liquidation of subsidiary Thomas Auld and Sons in August 2018.

This led to the closure of several local branches, including the West Blackhall Street branch, pictured, in Greenock's town centre.

They were among 18 casualties shutting across the country - with the loss of more than 100 jobs.

In their latest accounts, directors say the group has 'returned to profitable trading' following the insolvency.

Aulds Holdings made a pre-tax loss of £43,497 for the year ended March 30, after losing £231,017 the year before.

Turnover dropped to £13.5 million from £15.8m.

The accounts show the group recorded a gain of £458,389 on the liquidation of the subsidiary.

According to the accounts, average staff numbers dropped to 313 from 414, with payroll costs falling by about £1m to £5.3m.

But bosses say the UK's withdrawal from the European Union has presented challenges.

The accounts say: “Uncertainty due to Brexit continues to affect all markets, raising pressure on ingredient costs and stockholding costs and will continue to do so while uncertainty remains."

While Aulds has slimmed down its retail presence, bosses say the group has expanded the production of frozen desserts for the food service market and bakery products for the convenience store sector.

The directors said: “The group continued to invest in personnel and equipment to facilitate growth in its key markets during 2019."

At the time of Thomas Auld’s liquidation, managing director Alan Marr said the group had been 'unable to sustain the losses being made by the retail business'.

Its remaining outlets are in Greenock, Gourock, Largs, Johnstone, Paisley and Glasgow.