Pricecheck sees 16% rise in turnover and a boost in operating margins

Pricecheck has reported 16% growth in turnover to £151.7 million and a rise in operating profit margins from 1.42% to 2.77% in the year ended April 2024.

The FMCG international distributor is attributing the margin increase to strong revenue growth combined with cost control measures and reduced bad debt.

Mark Lythe: ‘We expect to achieve revenue growth of at least 20% for year ending April 2025.’

Mark Lythe, joint managing director at Pricecheck, commented: “We have continued to grow at a fast pace in the new financial year, with the team expected to achieve revenue growth of at least 20% for year ending April 2025. Operating margins are also improving as we start to realise the benefits of our investment in infrastructure, people and technology.

“The business has shown great resilience during the challenges of the last five years. Revenue growth during this period has averaged 14% per annum and we have firmly established ourselves as a trusted distribution partner for a growing portfolio of FMCG brands.

“We couldn’t achieve this growth without continued focus and determination from our team, and gaining independent accreditation from Great Place to Work in August 2024 further cemented our dedication to building a culture which enables, supports and celebrates our people.

“Overall, we’re very confident about the future prospects for Pricecheck and we’re looking forward to a busy and exciting year ahead!”

Pricecheck offers a range of over 8,000 branded products to customers in the UK and to more than 100 countries globally.