Bestway’s 2018/19 results show growth
Revenues were on the up for Bestway Wholesale in the year ending June 2019 as the cash and carry group recorded encouraging growth.
The wholesale arm of the Bestway Group grew 13% to £2.3 billion in 2019 from £2.1bn in 2018, with the company’s investment in technology and supply chain having a positive impact.
The encouraging figures across the 12-month timeframe also came alongside the investment for the future as it integrated Bestway Retail within the retail estate, which came hot on the heels of the acquisition of the Conviviality Retail Brands a few months earlier.
Bestway’s volume was influenced by a focus on customer channels to deliver value-add, which included investment into best-one symbol group, the multiple accounts division and Xtra Local Retail Club. Sales to symbol grew by 3.3% as the My Rewards rebate scheme continued to help symbol customers increase margins and profitability alongside driving loyalty.
“It’s well documented that Bestway Retail required stabilising and re-energising during a year of economic turbulence (Brexit) and legislative change across the National Living Wage. Market conditions for the wholesale sector also intensified during this period with Tesco, Morrisons and Asda entering the wholesale market place,” said Bestway Wholesale Managing Director, Dawood Pervez.
“However, the year was also one where we invested heavily into the future of the wholesale business to ensure we remain at the forefront of the industry. Our commitment to continuous customer service improvement led to a growing emphasis on designated delivery hubs to offer better and quicker service, underpinned by an ongoing programme of investment into technology and data-driven solutions.”
The figures also represented a 2.5% sales growth in its catering sales, an appear Bestway is keen to extend further into. Total sales in the year covered totalled £162 million and Pervez said he hoped the groundwork had been put in place for more success in the future.
“Growth in catering markets was supported not only by our supply chain investments including the hub project but also by our new BB Foodservice website and app, which were launched at the end of 2018,” Pervez added.
“The app accounted for 3% of total online transactions. We remain committed to the market with diverse customers from fast food to hotels and restaurants and our contracts with prisons and schools, and building on the strong foundations already laid across the catering industry.”Bestway Dawood Pervez results retail wholesale