Bestway Wholesale saw its revenue grow 10% last year to £2.66bn, returning an operating profit of £37.2m.
The company attributed its robust performance to its agility in responding to changing customer behaviours during the pandemic and ensuring its operations ran as smoothly as possible alongside a heightened focus on stock availability. During the period, the group also completed its acquisition of Costcutter.
Dawood Pervez, Managing Director for Bestway Wholesale, commented: “Aside from Covid-19, market conditions in the wholesale sector remained challenging, with supply chain issues, staff availability and inflationary pressures. We have also had to absorb the continued impact from the National Living Wage increases, as well as additional costs and the uncertainty surrounding Brexit.
“Despite these challenges, we remained committed to our strategic plans of offering improved service and convenience to customers and we continued to improve and manage availability of products during this period which resulted in a positive impact on sales.
“Despite the economic turbulence and challenges faced during 2021, the results are a testament to our strategic approach and operating model which has increasingly positioned us as the home of choice for the entrepreneurial retailer whether affiliated, or unaffiliated, and with a fascia to suit every retailer, regardless of size or location.”
Bestway Wholesale is part of the wider Bestway Group, which saw a 10% growth in revenues to £3.75bn with operating profit of £350m.
The group’s portfolio includes Bestway Wholesale and the Well Pharmacy chain. It also owns the second-largest cement manufacturer (Bestway Cement) and 2nd largest private bank in Pakistan (UBL) as well as property investments in both the UK and in Pakistan.
Lord Zameer Choudrey, CEO of Bestway Group commented: “The group and all of its subsidiaries have shown immense resilience in 2021 and we are confident that we will continue to gain share during 2022”.
