Parfetts awards staff a 4% bonus after record year
Parfetts has awarded all of its staff a tax-free 4% bonus after boosting its turnover by 50% to £570 million in 2020.
The move follows a series of bonuses throughout the year to recognise the hard work of staff during lockdown and the period of unprecedented growth.
The surge in turnover is partly attributed to the rapidly expanding Go Local fascia, which is now used by over 850 retail outlets.
Another reason for the strong performance, says the company, is that it maintained promotions during lockdowns and restrictions. It also extended its geographical reach by expanding its delivered service into the Midlands and saw its online presence grow to over 40% of all orders.
Guy Swindell, joint managing director (designate), said: “Everyone at Parfetts has gone above and beyond this year to help retailers navigate the challenges of lockdowns and restrictions across our regions.
“As an employee-owned business, we are able to reinvest back into the business to rapidly advance our plans for depot growth, the expansion of our delivered service and our fascia operations. Our retailers continue to tell us they appreciate the personal approach along with great availability and great value.”
All depots showed sales growth despite losing significant sales periods due to lockdowns. Parfetts says it is working closely with suppliers to optimise availability as the economy recovers and restrictions are lifted.
Swindell concluded: “As we enter the next financial year, the board is committed to continuing to grow the business and believes there are still significant opportunities to do so. It will again be the hard work of all colleagues that can make it achievable.”
Parfetts, which became fully employee-owned in October 2018, has grown by 85% in the last five years.
The company’s current strategy is to extend its customer reach through delivery rather than acquisition using four of its depots – Middlesbrough, Sheffield, Somercotes and Aintree – as 24-hour delivered hubs. It recently launched an off-licence focused fascia, The Local, and it is introducing a new range of price-marked propriety brands dedicated to the convenience channel.
