More

    Strong results for wholesaler JW Filshill amid ongoing market challenges

    Food and drink wholesaler JW Filshill, one of Scotland’s oldest independent food and drink wholesalers, saw turnover increase to £200 million – up 4.4 per cent from £191 million – in the year ending January 31, 2022.

    Glasgow-based Filshill, a fifth-generation business that supplies KeyStore convenience stores across Scotland and the north of England and national accounts including the Scottish Prison Service, also saw operating profits rise from £2.3 million to £2.7 million.

    Filshill recorded gross profit of £17 million while net assets grew to £17.1 million compared to £15.2 million the previous year, an increase of 12.6 per cent.

    Strong results for wholesaler JW Filshill amid ongoing market challenges
    Keith Geddes

    Unveiling another set of strong results, Keith Geddes, chief financial and operating officer, said that while sales and operations during the year were once again heavily impacted by the ongoing pandemic, tight controls and efforts by the Filshill team “minimised disruption and helped us continue to grow the business and deliver a high level of service to our customers”.

    The company, which last month ramped up investment ahead of its move to its new distribution centre in early 2023 with the acquisition of the independent Iain Hill Ltd wholesale business, located just a few miles away in Linwood, recorded gross profit of 8.5 per cent during the year.

    Mr Geddes, pointing to recent rising inflation and the cost-of-living crisis – in particular increases in the cost of fuel and food and drink – noted: “This causes uncertainty for the group, our staff, and our customers and suppliers.”

    Addressing supply issues, he added: “Industry-wide supply issues have been a challenge. However, to offset this the group works hard to maintain strong partnership-based relationships with all suppliers and we were recently ranked number one by suppliers in an independent survey by The Advantage Group across our key competitors all over the UK for the twelfth consecutive year.”

    Despite the ongoing challenges facing Filshill and the wider wholesale/food and drink sector, the group continued to support many local community programmes and good causes as part of its ongoing commitment to CSR.

    It also continued to heavily engage with its workforce on health and wellbeing, particularly with regard to mental health, with this work recognised through winning several industry awards.

    Strong results for wholesaler JW Filshill amid ongoing market challenges
    Simon Hannah

    Simon Hannah, Filshill’s chief executive officer, said: “Mental health and wellbeing remains at the heart of our strategy and we recognise that as a responsible employer we need to do this not only for our employees and their families but also because of the positive impact it has on our business and our customers.

    “Our safety-first culture is a cornerstone of everything we do and our workforce retention and ability to recruit has been positively impacted by these initiatives.”

    Mr Hannah added: “The long-term success of the company is central to everything we do. We invest in long-term return projects to protect future revenue streams and this includes constantly updating our technology, equipment and vehicle fleet – an approach that has resulted in greater efficiencies and customer satisfaction.”

    The company, he said, continued to measure revenue, gross margin and operating profit as key financial indicators and monitored non-financial KPIs including staff performance, vehicle fuel performance, sales service levels/range achievements, unanswered telesales call, returned orders and early warning date codes as part of its business performance review.

    Filshill also further developed its strategy around benchmarking its carbon footprint, identifying areas where it can positively influence a reduction in its carbon impact and work towards a net-zero emissions position. Driven by Filshill’s environmental team, the company saw a reduction of 9 per centin its intensity ratio measure of carbon per case delivered.

    Latest

    KP Snacks launches new Tyrrells recycled plastic pack

    KP Snacks today announces the introduction of 25 per...

    Brew Dog delivers low ABV with new Cold Beer

    This summer, BrewDog is cooling down the beer aisle...

    Mangrove portfolio dominates at World Whiskies Awards 2024

    The independent distributor Mangrove’s world whisky portfolio recently cleared...

    Co-op’s net zero targets validated global body

    Co-op has become the first UK convenience retailer to...

    Don't miss

    KP Snacks launches new Tyrrells recycled plastic pack

    KP Snacks today announces the introduction of 25 per...

    Brew Dog delivers low ABV with new Cold Beer

    This summer, BrewDog is cooling down the beer aisle...

    Mangrove portfolio dominates at World Whiskies Awards 2024

    The independent distributor Mangrove’s world whisky portfolio recently cleared...

    Co-op’s net zero targets validated global body

    Co-op has become the first UK convenience retailer to...

    Kitwave Group acquires 130-year-old delivered wholesaler

    Kitwave Group plc, the delivered wholesale business, has acquired...

    Co-op’s net zero targets validated global body

    Co-op has become the first UK convenience retailer to have its net zero targets validated by the globally recognised Science Based Targets initiative (SBTi). According...

    Kitwave Group acquires 130-year-old delivered wholesaler

    Kitwave Group plc, the delivered wholesale business, has acquired Total Foodservice Solutions Limited, a leading independent food wholesaler in the North of England. Established over...

    ‘Easter spending to rise as more Brits intend to celebrate’

    UK consumers are set to spend £1.9 billion this Easter on food and drink, a 4.0 per cent jump from 2023, a recent report...