Spanish fine foods wholesaler Mevalco has grown its turnover to £10m despite import challenges affecting the bottom line.
According to the company, the business went from £8.95m in 2023 to £10m turnover for the year ending June 2024.
Mevalco managed to grow in spite of “tough trading conditions” and increased import and post-Brexit costs, tariffs and processes.
The Bristol-based business supplies specialist retailers as well as foodservice operators.
Mevalco managing director David Menendez said 2024 was “a tough year for specialist retailers” as inflationary pressures on the consumer added to import costs and challenges.
“There is no question that 2024 has been a tough year and 2025 is looking equally challenging with the new National Insurance and minimum wage thresholds set to further impact on retail markets,” said Menendez.
“However, we have been pleased with the results of 2024, which has been driven by offering value and innovation in our product ranges and investing in our people.
“We have brought more than 80 new products to market and through working closely with our valued Spanish suppliers have looked to help our customers re-energise and refresh their offer at affordable prices in order to continue to attract the consumer. By doing so, we have engaged with more businesses and driven growth through volume in the bottom line. Consumers want value and they want quality.”
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