Scottish wholesaler JW Filshill saw pre-tax profits more than double from £906,000 to £2.2m in the year ending 31 January 2021.
Turnover jumped 23% to £191m as the wholesaler delivered what it called a “strong” set of financial results in a “period of extreme uncertainty”.
The Glasgow-based business said the boom in convenience through its Keystore fascia during the pandemic offset the high costs associated with keeping staff safe.
At the end of its financial year Filshill acquired Scottish wholesaler the Eldorado Tonic Wine brand, kick-starting its plans to diversify into the alcoholic dinks market.
The acquisition was part of a wider deal that saw the family-owned wholesaler take ownership of KB Agencies.
“The directors are pleased with the company performance and are confident profits will continue at a satisfactory level going forward,” said JW Filshill CEO Simon Hannah.
“We also revisited our overall company strategy during the year and created a 10-year strategy, built by all employees, to provide focus and clarity of direction for the business going forward.
“Our long-term strategy of building strong partnership-based relationships with our customers and suppliers has been critical in us providing essential supplies to communities across the country in challenging times.”
JW Filshill chief financial and operating officer Keith Geddes added: “The UK economy has experienced a period of extreme uncertainty due to the ongoing pandemic and the group has had to adapt to take account of the massive disruption experienced by all sectors.”
The family-owned business is set to relocate to a new 120,400 sq ft purpose-built distribution centre at Westway Park near Glasgow Airport in the early part of next year.
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