Employee-owned wholesaler Parfetts has announced record growth in the year ending June 2019 in both sales and profit.
The group’s turnover climbed 9.8% to £380m, with pre-tax profits jumping 17.5% to £6.1m. Like-for-like sales, excluding its new Middlesbrough depot and cigarettes, grew 5%.
A sales bonus of 2% was paid to all its staff in July and a second profit share bonus will be distributed in October.
Joint MD Greg Suszczenia said: “These are record results in both sales and profitability despite paying two bonuses to all staff as well as investing heavily in the business. It has been a tough 10 years for our business paying off the family, these results are a testament to the hard work of all staff in achieving that and a great springboard into the next decade.”
The company attributed its recent success to a number of key areas. This includes its GOLD (Go Local Direct) operation in Sheffield. The 24-hour depot combines cash & carry and RDC from one site with sales growing 10% over the last 12 months.
Parfetts revealed that its Go Local symbol group is now halfway towards achieving its target of 1,000 sites. In addition, the Go Local retail club promotion package has grown from 2,400 to 3,000 members.
Its new Middlesbrough branch (a former Blakemore site) has doubled its weekly turnover in just one year, whilst the group’s focus on building up its digital capabilities means 25% of its sales are now received online.
Retail Director Guy Swindell commented: “We are attracting retailers to our Go Local symbol group in record numbers. They value our independence and truly flexible approach to how they work with us. Our USP is that we recognise that retailers need the flexibility to trade in the way they want while being part of a professional template with lots of support & innovation.”
