A boost from exports and membership of its Go Local retail club have helped cash & carry operator AG Parfett & Sons break the £300m turnover barrier.
Sales from the wholesaler’s six depots increased by 4.2% to £301.4m in the year to 30 June 2011, according to accounts filed at Companies House.
Pre-tax profits were up 1.5% to £2.8m, including exceptional costs of £720,553 from the 64 redundancies the company made in May.
“Parfetts continues to trade successfully in an extremely challenging economic environment,” said chairman Steve Parfett. “We sadly had to make some staff reductions to ensure we were as fit as possible to face the challenges ahead.
“Remaining colleagues have pulled together extremely well and we believe these changes leave the business well placed to deal with the trading conditions we face.”
Exports to Europe, Canada and Singapore grew 202% to £5.9m as ex-pat traders stocked up on nostalgic lines such as seasonal confectionery and home baking products.
Parfetts Go Local promotional retail club increased membership by 10% over the year. “We have 700 retailers that commit to work with us to pass on promotional activity from suppliers,” said Parfett.
“Most retailers, unless they’ve got a captive audience, need to develop their business. It’s very encouraging that they accept the need to promote their business and are as keen to work with us as they are.”