A.F. Blakemore & Son’s Chairman has stated that the company is “energised and ready for the year ahead”, after a period of investment and reorganisation.
His comments were made alongside the release of group’s financial results for the year ending 30 April 2019. These showed that sales from A.F. Blakemore’s continuing operations had increased by 4.6% to £1.1bn, while pre-tax profits rose by 19.5% to £10.2m.
Peter Blakemore said: “This has been a tremendous performance and I’d like to thank all our staff who have worked so hard to help us achieve these results.
“We have continued to achieve positive growth across all channels and have carried out major reviews into all areas of our business to make sure we have the right strategies in place.”
The convenience retail and wholesale distribution company also made a number major investments through the year, including upgrading and buying new stores, improving logistics and developing its IT systems.
One of these investments was the purchase of 22 Philpotts stores last February from Patisserie Valerie. A.F. Blakemore stated that this had added further growth momentum to its existing fresh foods and foodservice business.
The group also signed a pre-let agreement on a 20-year lease for a 164,850 sq. ft. multi-temperature distribution facility in Bedford to expand its distribution network. It is due to take occupancy in 2021, subject to receiving planning permission. A.F. Blakemore stated that the new site will give it greater supply-chain capacity to support its growth plans.
Blakemore commented: “This is another exciting development for A.F. Blakemore and reflects the confidence we feel in the company’s ability to grow in the markets it operates in.
“As a business, we are feeling energised and ready to take advantage of all the opportunities available in the rapidly changing market.”
NAM Implications:
- A.F. Blakemore have made significant strides in terms of improving results…
- …and will want to keep it that way.
- Therefore, opportunities for NAMs that can cost their investments…
- …and demonstrate the financial impact on A.F. Blakemore P&L…
- Integrating their company improvements with your systems, might be a good start.
