A.F. Blakemore & Son, the family-owned business operating SPAR convenience stores and serving retail, foodservice and wholesale customers, has announced strong results for the 2023-24 financial year in a rapidly changing environment.
Chairman, Peter Blakemore announced, “Despite sales declining slightly from £1.24bn to £1.18bn, I am pleased to present results, showing positive actions on high margin categories and cost control meant adjusted EBITDA increased by 52 per cent from £19.3m to £29.4m after exceptional items.”
Sales momentum came from an ongoing investment in customers that delivered innovation including Vape, PRIME and MrBeast alongside food to go across partnered and owned and food brands, including Country Bridge Meats, Harriet’s Bakery, and Philpotts Food to go.
Instore customer experience was elevated with a digital first approach incorporating ESELs and digital screens across the company owned estate.
Significant investments in technology across the company owned SPAR estate have driven rigour and efficiency, whilst energy efficient plant and equipment in partnership with Gridserve, saw four EHGV trucks introduced into the Blakemore fleet and work in the supply chain removed six million food miles from the supply chain network.
Whilst the second half was more difficult with increased competition, poor weather and reducing inflation, footfall remained positive, and productivity initiatives delivered improved margins.
Acknowledging the role of colleagues within the business Peter thanked them for their approach and commitment to the company and expressed his confidence in the focus and energy the new CEO, Carol Welch and her senior leadership team have brought to the business.
