Sales in the licensed, retail and catering sectors all achieved “good growth”, which contributed to a total rise (excluding tobacco) of 1.9%.

Martin Race: ‘Overall it has been a strong performance.’

Managing director Martin Race attributed the overall revenue decline to the industry-wide deterioration in tobacco business.

During the year, the  company continued to maintain its focus on the three pillars of symbol & club, foodservice and digital.

Sales through the best-one symbol chain increased by 19.7% excluding tobacco and 12.9% overall. Retailers also benefited from rebates of more than £1 million through the My Rewards scheme.

In foodservice, Bestway Wholesale saw sales rise by 7.6%, with growth both in catering and the contracts side. Pet turnover increased by 7.9%.

Bestway Wholesale now has 62,000 online users compared with 37,000 in the previous year. Their weekly sales grew by 12%, with total app and website income averaging £26 million a month. The company’s mobile app accounts for nearly 25% of all online transactions, against 15% in the previous corresponding period.

Race said market conditions in the wholesale sector remain challenging, with wage inflation and the continuing pressure of multiple convenience providers and supermarket chains taking a keener interest in the sector.

“These latest set of results puts Bestway Wholesale back on track after a year of investment in 2015/16,” he commented.

“While market conditions continue to be challenging, we are seeing fantastic growth in our best-one symbol offer and multiple accounts businesses. Bestpets and catering have also performed well but we still think that we can develop these two sectors further. Overall it has been a strong performance.”