Nisa saw its total revenue drop annually from £1.6bn to £1.3bn, with the fall attributed to a reversal in pandemic trends.

The decline was revealed in the wholesaler’s latest financial results for the year ending 2 January 2022. Within specific categories, fresh and frozen revenue fell from £335m to £293m during the period, alongside licensed (£298m to £243m), tobacco (£475m to £417m) and grocery and non-food (£509m to £434m).

Despite the decline, gross margin during the year rose from 11.50% to 12.70%.

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Commenting on the figures, the trading statement said: “In 2021, the business experienced the roll-off of a major customer in the early part of the year as well as Covid-19 sales reversal, compared to the 2020 record breaking turnover year.

“The business has delivered another strong profit in 2021, with margin improvements offsetting increased distribution costs. The gross margin improvement was driven by improved sales mix, with lower sales of tobacco and licensed product partly driven by the reversal of Covid benefit enjoyed in 2020, as well as price rises and other margin initiatives.”

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