JW Filshill

Filshill FD Keith Geddes said the company was doing what it could to mitigate the impact of Brexit

JW Filshill delivered a 7.3% uplift in sales to £155m for the year to 31 January.

The Glasgow-based wholesaler hailed what it saw as a strong performance in a market faced with ongoing consolidation and Brexit-related uncertainty.

It supplies 185 KeyStore convenience stores across Scotland and the north of England and has several national accounts including the Scottish Prison Service and CalMac. It said the growth was reflected across all categories as it recorded a gross profit margin of 8.3%.

Filshill FD Keith Geddes said Filshill was doing what it could to mitigate the impact of Brexit.

“We believe that we have taken the necessary steps to minimise the associated risks and take advantage of the corresponding opportunities,” he said.

“The living wage, pension regulation and fuel prices continue to drive up our cost base. However, we continue to focus on offsetting these increases through a constant drive in improving operational efficiency and maximising our use of technology and data.”

In June, Filshill announced plans to move to a new larger headquarters near Glasgow Airport. The 6.7 acre Westway Park site is subject to planning permission and is expected to take 18 months to complete.

In terms of the consolidation in the independent retail sector, MD Simon Hannah said: “We seek to manage the principal risk of losing customers by aiming to deliver best-in-class customer service, and we are well positioned to continue to take advantage of the opportunities we are creating and delivering growth.”

He added: “The directors are pleased with the company performance and are confident that profits will continue at a satisfactory level.

“We’re in a strong position given current market conditions and while we continue to measure revenue, gross margin and operating profit as key financial indicators we also monitor non-financial KPIs including staff performance, vehicle fuel performance, sales service levels/range achievements, unanswered telesales calls, returned orders and early warning date codes as part of our business performance review.”

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