Sert-MST is retrenching and “realigning” in the face of cut-throat competition between the major multiples.
The toiletries and household goods wholesaler is slashing SKUs to maintain margins and has downsized its HQ.
Pre-tax profit for the year ending 31 March plunged 76% to £717,000 on turnover down 22% to £90m, in accounts filed at Companies House this week. MD Sabir Tayub told The Grocer price battles between Asda, Tesco and Sainsbury’s meant Sert-MST was caught in the middle and margins had taken a 1% hit.
The company moved from its freehold 240,000 sq ft Swadlincote, Derbyshire, HQ, back to its smaller 160,000 sq ft Nottingham site in June.
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