Filshill highlight investment amidst strong financial results

Scottish wholesaler JW Filshill has announced a 2% rise in turnover in the year ending January 31, 2023.

The firm’s annual results show a turnover of £203mil, compared to £199mil the year before. Gross profit during the period was £19.4mil, up from £17mil, and net assets increased from £17.1mil to £18.9mil. Operating profits rose from £2.7mil to £2.9mil.

Chief financial and operating officer Keith Geddes said  he was “particularly pleased” with the results in the wake of the Covid-19 pandemic.

He added: “We continue to work hard on building strong partnership based relationships with customers and key suppliers and we were again recently voted number one by suppliers in an independent survey by The Advantage Group across our key competitors for the thirteenth consecutive year.”

In addition to moving premises, Filshill’s statement on the financial results highlighted spending to reduce the company’s carbon footprint, including two new 18-tonne electric vehicles purchased, as well as ongoing community programmes and funding for employess’ health and wellbeing.

Hannah said: “The long-term success of the company is central to everything we do. We invest in long-term return projects to protect future revenue streams and this includes constantly updating our technology, equipment and vehicle fleet – an approach that has resulted in greater efficiencies and customer satisfaction.”