Parfetts awards employees a 10% profit share bonus

Employee-owned wholesaler Parfetts is awarding colleagues a 10% profit share bonus to recognise their contribution to the continued growth of the business.

The move follows Parfetts’ announcement that sales topped £634 million in the last year. The wholesaler has grown rapidly, expanding its Go Local fascia to over 1,100 stores and opening a new depot in Birmingham.

Following a year of investment into safeguarding retailer margins with an expanded promotional plan, including events like the company’s annual Parfest, like-for-like sales increased by 4.7% on £605 million in the previous financial year. The profit split comes after all qualified Parfetts employees received a 4% tax-free sales bonus in July.

Guy Swindell, joint managing director of Parfetts, said: “As an employee-owned company, our people are at the heart of everything we do. It is their hard work that is driving the business forward and supporting retailers across the UK.

“The year ahead will continue to provide a challenging environment for retailers, and we are increasing our efforts to support their margins and give them the service they need to operate efficiently and effectively.”

Over the last 12 months, Parfetts has invested in reducing its carbon footprint by rolling out LED lighting and solar panels at its depots across the UK. The move drastically reduces the company’s carbon footprint and generates cost savings that help drive value across the business.

Noel Robinson, joint managing director of Parfetts, said: “All of our dedicated colleagues deserve praise for the outstanding service they provide all year round. As an employee-owned company, we can ensure the success of the business is shared and hard work is rewarded.”

Parfetts has depots in Aintree, Anfield, Birmingham, Halifax, Middlesbrough, Sheffield, Sommercoates and Stockport.

Published Date: September 29, 2023
Category: Wholesale Industry News