Parfetts boosts turnover by 6.7% to £646 million

Parfetts achieved a 6.7% rise in turnover to £646 million in the year ended 30 June 2023. Operating profits increased by 51% from £5.6 million to £8.5 million.

The employee-owned wholesaler has rewarded staff over the year with a record 10% pay rise and an overall 14% bonus.

The Stockport-headquartered wholesaler attributes the success to focusing on increasing customers’ profits through developments in its retail offering, extensive relevant product ranges, including the Go Local own label, and more frequent promotions.

The profits will be invested back into the business with the continued expansion of its delivery network, depot operations and symbol estate.

Commenting on the results, Guy Swindell, joint managing director of Parfetts, said: “We’ve had a notable year with the launch of our Birmingham depot, whilst continuing our significant investment plan in our wider depot network, which, alongside our ever-improving digital channels, means we are constantly enhancing the experience for our customers and suppliers.

“The Go Local and The Local symbol estate continues to go from strength to strength, and we now have over 1,300 retailers in the group. We’ve invested in our national network of retail advisors and continue to invest in our retailers with store refurbishments and new concepts.

“We are focused on continuing to deliver growth for our suppliers, and we’re proactive in ensuring they have the best support for their brands.”

Over the last 12 months, Parfetts has also rolled out solar panels and LED lighting in all its depots to reduce carbon emissions. It is moving towards a corporate fleet of electric vehicles.

Noel Robinson, joint managing director of Parfetts, added: “Parfetts doesn’t stand still, and we are constantly looking at ways to improve efficiency to free up resources that can be reinvested back into the business. New technology will continue to improve the efficiency of our logistics and depot operations. I firmly believe that we have the best team in the business, who work hard every day to move the business forward and support our thousands of customers.”

Parfetts operates depots in Aintree, Anfield, Birmingham, Halifax, Middlesbrough, Sheffield, Somercotes and Stockport. Its operations cover England, North Wales, and the Midlands.

Parfetts’ full accounts will be filed on 31 March 2024.

Published Date: March 18, 2024
Category: Wholesale Industry News