SCOTTISH biscuit brand Tunnock’s has recorded a £3 million loss in profits due to the global shortage of cocoa beans.

The confectionery firm, best known for its snowball and caramel wafers, saw pre-tax profits fall sharply from £4.1m to £841,000 in the last year, according to newly published accounts.

Figures on Companies House for Thomas Tunnock Ltd showed the firm recorded record sales of £87.7m as customers at home and abroad continue to enjoy the iconic brand.

However, directors at the firm said the rise in cocoa prices followed the increase in energy costs after Russia invaded Ukraine in 2022.

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Cocoa prices have increased due to poor harvests in West Africa, which produces the bulk of the global supp

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