Food and drink wholesaler JW Filshill, one of Scotland’s oldest independent food and drink wholesalers, saw turnover remain robust, in line with the overall market trend at £213 million for the year ending January 31, 2026.
Amid ongoing challenging market conditions, the fifth-generation business, based at Westway Park near Glasgow Airport, saw operating profit slightly down at £4.1m against £5.0m the previous year, the drop of £0.9m due to increases in employers’ national insurance contributions and the minimum wage.
The company also invested heavily in product development relating to its growing Eldorado Tonic Wine brand.
However, profit before tax increased 72% from £4.9m to £8.4m, primarily due to the revaluation of its investment properties, in particular its former headquarters at Ainslie Avenue, Hillington, from where the business relocated in 2023.
Filshill, which supplies KeyStore convenience stores and independent retailers across Scotland and the north of England and also specialises in brand ownership and development, continued to deliver against a clearly defined corporate strategy and ambitions for the future, as well as driving efficiency across the business.
Keith Geddes, chief financial and operating officer, said: “We have continued to deliver against our clearly defined corporate strategy and ambitions and drive efficiency throughout our operation. This improved efficiency is more essential than ever given the increase in costs driven mainly by changes to fuel, living wage and employers’ national insurance costs.
“The directors are pleased with the company performance and are confident that profits will continue at a satisfactory level going forward.
“The long-term success of the company is central to everything we do. We invest heavily in long-term return projects to protect future revenue streams. This includes constantly updating our technology, equipment, and vehicle fleet on an ongoing basis – an approach that has resulted in greater efficiencies and customer satisfaction.”
Noting that Filshill continued to invest heavily in upskilling its employees to take full advantage of advancements in artificial intelligence, he said: “We will ensure that we make use of these tools across all areas of the business.
“We also continue to push forward with investment in other areas of technology such as the innovative use of data, Scope 3 emissions tracking software and industry-specific opportunities for our KeyStore customers in relation to, for example, electronic shelf-edge labels.”