Wholesale distributor Pricecheck has achieved double-digit growth for the second year running.
Although fully audited accounts won’t be published until later this year, the company said it achieved revenue growth of over 14%, taking its annual turnover to around £129m.
The new figures for the year ended 30 April 2023 will mark the company’s ninth year of successive growth.
Pricecheck said that its core delivered wholesale offering remained the biggest contributor to turnover.
However, it also said that diversification, innovation in brand distribution, and the exploration of emerging markets had helped to push the business forward.
In the past year, the company has secured exclusive and semi-exclusive distribution deals with Batiste, Arm & Hammer, Nair, Femfresh, W7 cosmetics, and Enjoy Chocolate.
The results mean that the business remains on track to meet its a five year growth target, set in 2021, to double turnover to £200m by 2026.
“Every year since we moved to new premises in 2016 we have grown by double digits, apart from the covid year ending April 2021, said Pricecheck joint MD Debbie Harrison.
“This is something we’re incredibly proud of as it demonstrates the hard work from the team over recent years.
“Over the past 12 months, we’ve focussed on innovation across the business to enhance and change our offering. As a result, we’ve secured more exclusive distribution deals, diversified our retail offering and improved company efficiencies.
“It’s always been exciting at Pricecheck, but I’m more excited than ever for what the future holds.”
In March, the company announced that it had reduced carbon emissions by more than 30% in the past year, after implementing a series of green initiatives.
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