Parfetts has revealed that its turnover rose 6.7% last year to £646m, with operating profits climbing 51% to £8.5m. As a result, the employee-owned wholesaler has rewarded staff with a record 10% pay rise and an overall 14% bonus.
The Stockport-headquartered firm attributed its success to focusing on increasing customers’ profits through developments in its retail offering, relevant product ranges, including the Go Local own label, and more frequent promotions.
Parfetts noted that profits would be invested back into the business with the continued expansion of its delivery network, depot operations and symbol estate.
Guy Swindell, joint managing director of Parfetts, commented: “We’ve had a notable year with the launch of our Birmingham depot and whilst continuing our significant investment plan in our wider depot network, which, alongside our ever-improving digital channels, means we are constantly enhancing the experience for our customers and suppliers.
“The Go Local and The Local symbol estate continues to go from strength to strength, and we now have over 1,300 retailers in the group. We’ve invested in our national network of retail advisors and continue to invest in our retailers with store refurbishments and new concepts.
“We are focused on continuing to deliver growth for our suppliers, and we’re proactive in ensuring they have the best support for their brands.”
