AF Blakemore & Son reports 3.9% increase in sales

AF Blakemore & Son achieved a 3.9% rise in sales to £1.24 billion in the year ending 30 April 2023.

Peter Blakemore: ‘The group has demonstrated fantastic resilience.’

Chairman Peter Blakemore commented: “The group has demonstrated fantastic resilience, despite facing national supply chain challenges last year.”

EBITDA (earnings before interest, taxes, depreciation and amortisation) increased by 65% from £14.8 million to £24.4 million.

“This strong growth is largely attributed to our SPAR retail performance, enhanced by improved stock availability and significant productivity within our supply chain,” said Blakemore.

“As one of the only independent convenience wholesalers and retailers in the UK, our store teams have delivered exemplary customer service and made a notable contribution to the communities in which we operate. SPAR stores have consistently invested in customer needs for fresh food to go and convenient fresh food for later categories, alongside innovative promotions and new to market product launches, such as Prime Hydration. These initiatives have contributed to a notable increase in like-for-like sales,” he added.

Blakemore also highlighted the successful evolution of the company’s logistics network with the opening of a new facility in Bedford, and recovery of its foodservice and wholesale volumes to pre-pandemic levels.

He added: “We remain committed to sustainability and, through increased focus and investment in technology, we’ve achieved a 12% drop in carbon emissions.”

Recognising the commitment of the leadership team, he said: “Our trajectory in the current financial year already reflects an upward momentum. I wish to acknowledge and thank our dedicated colleagues, loyal customers, partners and suppliers for their continued support.”

AF Blakemore consists of the following divisions:

• Retail, which consists of 262 company-owned SPAR stores

• Philpotts, a chain of 15 prepared-food stores

• Trade Partners, which serves 690 independently-owned SPAR stores

• Wholesale Distribution, a complete food & drink supply chain service provider

• Foodservice, which serves catering outlets nationwide

• Fresh Foods, a fresh meat wholesaler, distributor, and importer

• Design & Shopfitting, AF Blakemore’s own shopfitting division

• Vegan Store, a wholesaler and distributor of vegan products.