NBC boosts group revenue and profits and declares a dividend

National Buying Consortium (NBC) has announced that group revenue rose to £27.3 million and group profits rose by over 60% in 2022.

NBC managing director David Lunt (centre) with some of the member shareholders who attended the recent AGM.

In addition, membership grew and is continuing to grow this year with the additions of Candy Hero, Marion Trading, One For the People, and Precision Wholesale. NBC has also reported that rebates returned to members in full and on time have reached over £6.1 million since 2019.

Managing director David Lunt commented: “We have a very strong set of results for the group companies in 2022. As a result of the hard work and persistence from everyone involved, we are able to declare a dividend to all shareholders, which ensures we deliver upon our promise of NBC membership being an investment, not a management fee.

“All of our member shareholders can now be confident that their initial share investment is showing both a good dividend yield and capital growth. And, of course, by working closely with our supplier partners, we are ensuring that their brands reach the consumers they want to reach in the trade channels we serve.”

NBC chairman David Longfellow added: “Since we started in 2019 we have had to deal with a number of challenges to both the group and its individual shareholder members, and if nothing else the opportunity to show confident results has shown great resilience from our members. But perhaps more importantly, it states very clearly that collaboration between members and suppliers, facilitated by the buying group, is a confident and safe way of doing business now and in the future. This is a great period in the group’s development.”