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The Stockport headquartered wholesale and retail group, Parfetts, has announced it will provide its colleagues with an ‘exceptional cost of living bonus’ of up to £500, on top of a sales bonus this year.
The employee-owned business informed its staff over the weekend of the 25th June that its annual sales bonus of up to 2% of salary will be paid early and supplemented by a cost of living bonus. Employees working at the two best performing depots operated by the group, in Aintree and Middlesbrough, will receive a 4% after reporting sales growth of 21% and 18% respectively. All bonuses will be paid tax-free to team members.
Guy Swindell (pictured), joint managing director of Parfetts, explained:
“As an employee-owned business our people are at the heart of everything we do. It is the hard work and dedication of everyone at Parfetts that drives our continued success. We wanted to look at how we can support people with the current cost of living crisis and took the decision to pay an additional bonus this year.”
The bonuses come as the group saw sales exceed £600 million in the last year for the first time, and records 5% growth on the previous financial year. Mr Swindell continued:
“Over the past 12 months, we’ve focused on providing a high level of service, product range and price to our customers. With the continued expansion of our delivered operation and the recruitment of new customers to the Go Local fascia estate, we have achieved a record sales figure.
“Parfetts has continued to grow despite significant sales periods overlapping last year’s lockdowns and the aftershocks of the Covid pandemic. Looking forward, there are significant opportunities for growth as we continue to evolve our offer to support our customers.
“Our retailers continue to tell us they appreciate the personal approach with great availability and value. It’s an approach that supported record growth in turnover and the number of retailers in our Go Local fascia.”