A.F. Blakemore & Son recorded robust financial results for its food retail, foodservice and wholesale business during the year ending on 30 April 2023.
EBITDA climbed 65% to £24.4m, with sales increasing by 3.9% to £1.24bn.
“The group has demonstrated fantastic resilience, despite facing national supply chain challenges last year,” said Chairman Peter Blakemore. “This strong growth is largely attributed to our SPAR retail performance, enhanced by improved stock availability and significant productivity within our supply chain.”
Blakemore noted that its SPAR stores had consistently invested in customer needs for fresh food-to-go and fresh food for later categories, alongside innovative promotions and new-to-market product launches, such as Prime Hydration. “These initiatives have contributed to a notable increase in like-for-like sales,” he said.
Blakemore also highlighted the evolution of the group’s logistics network with the opening of a new facility in Bedford, and the recovery of its Foodservice and Wholesale volumes to pre-pandemic levels.
He concluded: “Our trajectory in the current financial year already reflects an upward momentum. I wish to acknowledge and thank our dedicated colleagues, loyal customers, partners and suppliers, for their continued support.”
NAM Implications:
- Overall sales still far short of inflation.
- That said, SPAR has delivered.
- And justified investment.
- Worth suppliers checking that they achieved their fair share of sales and investment.
