Record Year For Parfetts; Investing In Technology To Negate Inflation Pressures

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Namnews, 1st April 2022

Cash & carry wholesaler Parfetts delivered record turnover and profits during its last financial year as it benefitted from the surge in demand for groceries during the pandemic.

According to newly-filed accounts with Companies House, the Stockport-headquartered business saw its turnover jump £90m to £570m during the 12 months to 30 June 2021. Pre-tax profit increased from £11.6m to £14.6m.

A directors report said: “We are delighted with the results for the year ended June 2021 in what has continued to be a particularly challenging period, as we have experienced increased customer demand while working hard to manage supply chain shortages due to Covid as well as ensuring we had sufficient staff levels to maintain customer service levels.

“Sales, which had risen dramatically since the start of Covid-19 pandemic continued to remain strong throughout the financial year, as the increased demand from our retail customers was maintained.

“This increased demand, alongside a proactive approach to stock procurement and stock availability, an increase in our delivered capacity and continuing improvements in our IT infrastructure meant we were well placed to continue to achieve further sales growth and service our customers.”

Looking ahead, it said its Go Local retail club and symbol group continues to grow at pace and is a key part of its strategy. It added: “We now have 4,482 retailers participating in the promotion and 785 of these stores are under the Go Local fascia symbol, with our current target of 1,000 new well within reach in the near future.”

Meanwhile, Parfetts highlighted that the new Optrack technology rolled out to its seven depots increases efficiency by 30%-40%. It is hoped that this will allow the wholesaler to stay on top of industry cost increases without having to pass on excess price rises to customers.

Parfetts joint Managing Director Guy Swindell said: “We think we can become more efficient and better operators, and not have to pass on any costs to the independent retailer.”

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