New highs achieved as Parfetts grows
“Fantastic” end-of-year results beat wholesaler’s previous best
Records were sent tumbling at Parfetts after the wholesaler revealed its end-of-year results, with its highest-ever turnover.
The company racked up a £346m turnover figure for the year ending June 2018, which represents a 6.8% growth on the previous financial year, while profits also grew over the same period from £3.3m to £5.1m.
The strong figures are the result of a strategy that focuses on everyday low pricing, availability, powerful promotions and great customer service.
This has been added to by the acquisition of a former Blakemore depot in Middlesbrough and the continued success of Parfetts’ Go Local Retail Club and symbol group, with the business set to exceed its target of having 3,000 retailers in the scheme.
The record-breaking results are also great news for employees, who will enjoy bonuses of at least 8% of their salary as part of Parfetts’ employee-ownership bonus scheme.
“The business has enjoyed another fantastic year, with all areas of the company making a significant contribution to a great set of numbers,” said Joint Managing Director Greg Suszczenia.
“The market is always challenging and while we have benefited from the demise of two of our competitors, namely Palmer & Harvey and Conviviality, it’s testament to the Parfetts offer that we continue to be attractive to win new customers to the group.”