Stockport wholesaler shares annual results

Stockport headquartered wholesaler, Parfetts, has announced growth in turnover and operating profits in its annual results for the last financial year.

In light of its positive performance, the employee-owned wholesaler has rewarded staff over the year with a record 10% pay rise and an overall 14% bonus.

2023 has seen turnover at the group grow 6.7% to £646 million in its latest annual results. Operating profits also increased 51% to £8.5 million, up from £5.6 million in the previous financial year.

The Stockport-headquartered wholesaler attributes the success to focusing on increasing customers’ profits through developments in its retail offering, extensive relevant product ranges, including the Go Local own label, and more frequent promotions. Profits will be invested back into the business with the continued expansion of its delivery network, depot operations and symbol estate.

The last 12 months has also seen Parfetts roll out solar panels and LED lighting in all its depots to reduce carbon emissions. It is moving towards a corporate fleet of electric vehicles.

Commenting on the results, Guy Swindell, joint managing director of Parfetts, said:

“We’ve had a notable year with the launch of our Birmingham depot and whilst continuing our significant investment plan in our wider depot network, which, alongside our ever-improving digital channels, means we are constantly enhancing the experience for our customers and suppliers.

“The Go Local and The Local symbol estate continues to go from strength to strength, and we now have over 1,300 retailers in the group. We’ve invested in our national network of retail advisors and continue to invest in our retailers with store refurbishments and new concepts.

“We are focused on continuing to deliver growth for our suppliers, and we’re proactive in ensuring they have the best support for their brands.”

Noel Robinson, joint managing director of Parfetts, said:

“Parfetts doesn’t stand still, and we are constantly looking at ways to improve efficiency to free up resources that can be reinvested back into the business. New technology will continue to improve the efficiency of our logistics and depot operations. I firmly believe that we have the best team in the business, who work hard every day to move the business forward and support our thousands of customers.”