Dhamecha Foods has recorded a year of continued growth in profits and revenues.

According to newly filed Companies House accounts, the business posted a pre-tax profit of £19.4m for the year ended 31 March 2022. 

This represented an increase of 10% on the £17.5m profit for the previous financial year.

Over the same period, sales jumped by 3.5% to reach £1.1bn and net assets also increased by 2%, to total £94.4m.

The company said it had considered if it should operate differently, and has set up a business development team, which regularly reports to the directors in order to flag all issues affecting its customers.

“Our business model has delivered shareholder value as demonstrated by the growth of the company,” said director Pradip Dhamecha.

“More recently, however, the wholesale sector, which had always operated in a competitive market, is also experiencing increased political and economic uncertainty.

“Whilst we expect and have planned for continued political and economic uncertainty, particularly due to the impact of Covid-19, we are well positioned and will continue to operate the business within tight budgetary controls.”

The results follow the company’s acquisition of a new depot in Leyton last year, taking its total number of cash & carries to 10.