The wholesaler and symbol group’s new plan for this financial year includes 7% growth in turnover to £1.2bn by April – up from 6% last year. It also aims to aggressively recruit 100 new stores to its symbol group, bringing the total to 600.
The new targets have been devised despite losing local supermarket chain Booths, which has already stopped buying from it and will officially leave the trading group at the beginning of 2009.
The group said it had compensated by recruiting new business and planned to expand in the Irish Republic, where it has already sold more than £1m of produce so far this financial year. “We set ambitious targets for 2008-2009 and we have performed in line with the plan in April and May, particularly in ambient where we are 10% up on budget,” said Neil Turton, CEO. “In the four weeks of May we saw the greatest-ever back-to-back delivery volumes on ambient, with each week exceeding 1.3 million cases.”
Delivered wholesalers are being squeezed by the rising price of diesel, which is costing Nisa-Today’s £70,000 a week more than its budget. However, Turton pledged the group would take a hit to its profits “for as long it can in order to help members.