Parfetts has enjoyed a 6.7% rise in annual turnover to £646m.
The Stockport-based wholesaler said the sales growth was driven by development of product ranges including own label Go Local, along with more frequent promotions.
Operating profits soared 51% to £8.5m in the year ended 30 June 2023.
Parfetts said the profits would be invested back into the business, including the continued expansion of its depot network, following the launch of a new 100,000 sq ft site in Birmingham in March last year. It said there would be new investment in an electric vehicle fleet, picking and logistics technology, driver resources and web and app improvements.
The business had already installed solar panels and LED lighting across all eight depots to reduce carbon emissions, it added.
“We’ve had a notable year with the launch of our Birmingham depot,” said Parfetts joint MD Guy Swindell. “As we continue our significant investment plan in our wider depot network, alongside our ever-improving digital channels, it 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 over 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.”
Parfetts operates depots in Aintree, Anfield, Birmingham, Halifax, Middlesbrough, Sheffield, Somercotes and Stockport. Its operations cover England, north Wales, and the Midlands.
No comments yet