Pricececk grew its turnover by 16% to £151m in the 12 months to 30 April 2024.
The Sheffield-based distributor doubled its pre-tax profit to £3.1m thanks to “strong revenue growth” combined with “cost control measures and reduced bad debt”.
Operating profit increased from £1.8m to £4.2m
Joint MD Mark Lythe told The Grocer he felt “confident” about future prospects and was foreseeing a “busy” year ahead for Pricecheck.
He said the company was expecting to achieve 20% sales growth for the year ending April 2025.
Operating margins have also improved, according to Lythe, as new investments in infrastructure, people and technology come to fruition.
“The business has shown great resilience during the challenges of the last five years. Revenue growth during this period has averaged 14% per annum and we have firmly established ourselves as a trusted distribution partner for a growing portfolio of fmcg brands.
“We couldn’t achieve this growth without continued focus and determination from our team, and gaining independent accreditation from Great Place to Work in August 2024 further cemented our dedication to building a culture which enables, supports and celebrates our people.”
The results mark the 10th year of consecutive growth for the company, which attributes the success to expanding services including new supplier partnerships, increasing digital sales, and developments across brand distribution.
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