Scottish sweetie company Golden Casket (Greenock), the firm behind the Millions and "£One Pounders" brands, has revealed it fell to a loss of more than £2 million after writing off an investment in and loan to football club Morton.

The family-owned firm’s latest Companies House filing shows that it fell to an after-tax loss of £2.016 million in the year to December 31, 2021, from a profit of £436,075 in the prior 12 months.

Golden Casket (Greenock) made an operating profit of £463,155 from its confectionery business in the year to December 2021, up from £420,939 in the prior 12 months.

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Greenock Morton Football Club, which is currently fourth in the Scottish Championship behind Queen’s Park, Dundee and Ayr United, is now majority-owned by its fans.

In their strategic report in the accounts, signed on behalf of the board by Crawford Rae, the directors say: “In September 2021, the remainder of our shareholding in Greenock Morton Football Club was transferred to Morton Club Together (MCT), ending our long association with the club. As part of the transaction, our substantial investment in the club and a loan totalling £2,385,213 were written off such that our overall result for the year is a loss after tax of £2,016,442.”

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Crawford Rae’s father, Douglas Rae, founded Golden Casket in 1959 when sweets were less than 6p per quarter and milk was 4p per pint. Douglas Rae, a former chairman of Greenock Morton Football Club, died in 2018 at the age of 87.

The turnover of Golden Casket (Greenock) rose to £21.6 million in the year to December 2021, from £18.4m in the prior 12 months.

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The firm's workforce was steady, at 45.

It says on its website: "We are a family owned and run company. We now have the third generation of the Rae family working in different departments within the company from sales and marketing to production. Our staff, many with over 20 years' service, will tell you that ‘the Casket’ has a family feel to it. That sense of belonging and of family values is well known in the confectionery industry."

The company adds: "The estate where all production, warehousing and offices are based was purchased in 2016 by Douglas Rae to ensure the continued future of the company for his family and employees. There is also constant investment in machinery and plant. We are always striving to grow and continue delighting our customers worldwide."