wing yip croydon

Wing Yip’s pre-tax profits soared by more than a quarter despite operating in a “challenging” business environment.

The oriental foods wholesaler posted a pre-tax profits hike of 26.3% to £4.8m, up from £3.8m in 2014, according to new accounts on Companies House for the year to 30 September 2015.

Turnover remained steady, declining moderately to £103m from £104m last year.

“The business environment in which we operate continues to be challenging as we are subject to consumer spending patterns and their disposable incomes,” said financial director Mick Newport.

“Exchange rate fluctuations and the state of agriculture worldwide also impact upon our results. With these risks and uncertainties in mind, we are aware that any plans for the future development of the business may be subject to unforeseen future events outside our control.”

In July, Wing Yip will begin building work to double the size of its Croydon depot and refurbish another in Cricklewood, North London.