Glasgow-based wholesaler JW Filshill has reported a 6% turnover increase of £215m for the year ending 31 January 2024, with gross profit rising to £22.3m from £19.4m and operating profit jumping from £2.9m to £4.2m.
The company, which supplies KeyStore convenience stores and independent retailers across Scotland and the north of England, moved to a new headquarters near Glasgow Airport last year. This has allowed it to increase storage capacity from around 900,000 cases per month to an optimum capacity of two million cases at the new depot.
Keith Geddes, chief financial and operating officer, added that the improved growth and profitability came from this recent relocation: “The massive effort put in by all Filshill employees and the support we received from suppliers and customers was much appreciated. The new facility is a major step forward in delivering our planned growth and business improvements.”
Filshill Paisley KeyStore relocates to larger premises
The investment in the new facility and other projects throughout the period cost the company £6.6m over the past two years. “Operational efficiency generated from the new distribution centre [had led to industry-leading] product availability,” added Geddes
Filshill is also ramping up investment in technology and “in particular in the innovative use of data”.
However, the group pointed to ongoing inflation and increases in the cost of living, with increases in the cost of fuel and food and drink causing “uncertainty for the group, our staff, our customers and suppliers”.
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