Parfetts has revealed that turnover increased by 6.7% to £646m in the 12 months to 30th June 2023.
The employee-owned wholesaler has rewarded staff over the year with a record 10% pay rise and an overall 14% bonus.
Parfetts has attributed the success to focusing on increasing customers’ profits through developments in its retail offering, extensive relevant product ranges, including the Go Local own label, and more frequent promotions.
Parfetts saw operating profits increase 51% to £8.5m from £5.6m in its last financial year. The profits will be invested back into the business with the continued expansion of its delivery network, depot operations and symbol estate.
Guy Swindell, joint managing director of Parfetts, said: “We’ve had a notable year with the launch of our Birmingham depot and whilst continuing our significant investment plan in our wider depot network, which, alongside our ever-improving digital channels, means we are constantly enhancing the experience for our customers and suppliers.
“The Go Local and The Local symbol estate continues to go from strength to strength, and we now have more than 1,300 retailers in the group. We’ve invested in our national network of retail advisors and continue to invest in our retailers with store refurbishments and new concepts.
“We are focused on continuing to deliver growth for our suppliers, and we’re proactive in ensuring they have the best support for their brands.”
Over the 12 month-period, Parfetts has also rolled out solar panels and LED lighting in all its depots to reduce carbon emissions, it said, while also moving towards a corporate fleet of electric vehicles.
Noel Robinson, joint managing director of Parfetts, said: “Parfetts doesn’t stand still, and we are constantly looking at ways to improve efficiency to free up resources that can be reinvested back into the business. New technology will continue to improve the efficiency of our logistics and depot operations. I firmly believe that we have the best team in the business, who work hard every day to move the business forward and support our thousands of customers.”
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