Glasgow-based wholesaler JW Filshill’s operating profits have risen 22.2% to £1.1m over the past financial year.
Turnover fell by 0.5% to £142m in the year to January 31 2017.
Strong craft beer and spirit sales offset a continuing fall in tobacco sales. The company also attributed its success to the growth of its international division alongside the development of its core wholesale business.
“Our market is evolving with further changes to tobacco sales regulations likely to drive the same trend for coming years, forcing convenience operators to focus more heavily on growth areas such as local sourcing, food to go, and fresh and chilled foods,” said MD Simon Hannah.
“We have ramped up investment in our workforce to enable us to engage more closely with our KeyStore customers and manage the principal risk of losing customers to other groups by offering strong promotions and wide-ranging advice and support, including store layouts/planograms, consumer leaflets, digital social media and EPoS till installations.”
JW Filshill’s capital investment included extending its Hillington office to locate its growing workforce and training facilities.
Its international division exports craft beer, craft spirits and groceries across the world and is particularly focused on the Asia-Pacific region.
“We are pleased to see our international business starting to generate profit,” added Hannah.
“The markets we operate in remain highly competitive but we are well positioned to take advantage of the opportunities we are creating.”
Filshill supplies 175 KeyStore convenience outlets across the north of England and Scotland. It currently has net assets of £11.7m.