Parfetts, the employee-owned wholesaler, today published its annual report and results with the news that pre-tax profits for the year ending June 30, 2014 stood at £3.6m on turnover that increased by 3% to £308.7m.
Managing director, David Grimes (pictured) said the business was “delighted to have achieved an excellent set of trading figures” on increased year-on-year turnover despite of the ongoing economic challenges. “Our continued success is entirely due to the dedication and hard work of our employees and we are extremely grateful for their commitment and loyalty,” he added.
Highlights of the past year for the business include: the Sheffield depot celebrating 10 years of trading; the completion of a modernisation programme across all six depots; chairman Steve Parfett winning the Family Business Director of the Year Award from the Institute of Directors (IoD); and the Go Local Extra store in North Wingfield near Chesterfield winning the Best Impulse Retailer category at another major awards ceremony.
However, Grimes said that there were still plenty of challenges ahead for Parfetts, a Landmark Wholesale member, and the wholesale sector: “The markets in which we operate remain highly competitive and duty fraud is still a major problem. The number of convenience stores opened by the multiples continues to increase and the impact on our retail customers is huge – we are doing as much as possible to help them to develop their businesses to compete with this threat. Our Go Local retail club for example, is delivering real results for our customers and we will continue our drive to recruit more Go Local symbol retailers through all our depots.
“Go Local is now established as a three-tier retail club and there are over 1,000 shopkeepers taking advantage of the Go Local Retail Club promotions. Of these, more than 100 carry one or other of the Go Local fascias, which we unveiled just two years ago.
“We are also focussing on the catering sector which remains a valuable part of the business and is set to grow further in 2015. Click amp; Collect is a growth area for our business and we have invested heavily in upgrading depot wi-fi coverage and depot technology to facilitate picking of orders using RF units and a new SOP system. Online will continue to develop and our enhanced e-commerce presence is now in final testing.”