Bestway announces new depots

Bestway Group has announced plans for its 50th and 51st cash and carry depots.
A new Bestway depot will open in Edmonton in north London next March, and a new Batleys depot, the first for five years, will open at Gillingham in July.
The new depots will represent an £11.5m investment in the business.
Group chief executive Zameer Choudrey said: “Edmonton and Gillingham are the latest examples of Bestway’s continued commitment to the UK’s wholesale cash carry sector.
“Bestway will continue to focus on organic growth through investments in existing and new warehouses and initiatives. At the same time, the group continues to evaluate possible acquisition targets within the sector.”
The group also revealed its annual results for the year to June 2006, reporting turnover up 26% to £1.7bn and pre-tax profit up 27% to £73m.
In its first full year since acquisition Batleys contributed in excess of £566m to the group’s turnover and £8.2m in operating profits.

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