Key Summary
- Record sales: UWS turnover hit £285m in 2024, with gross profit up but operating profit down.
- Growth push: Targeting £500m by 2030 via acquisitions, depot upgrades, and London expansion.
- Retailer support: 150 store refits, new EPOS, and loyalty clubs to boost engagement.
United Wholesale Scotland (UWS) achieved record turnover of £285 million in the year ending 31 December 2024, up from £281.7 million in 2023.
UWS's gross profit rose from £25.4 million to £26.9 million, representing an increase from 9 per cent to 9.5 per cent while operating profit was down from £7.6 million to £6.9 million.
The Glasgow-based wholesaler, which recently completed its takeover of Time Wholesale in Essex (now called United Rainham), said that the growth was achieved despite a highly competitive market and ongoing pressure on consumer spending.
A company spokesperson added: “Our strategic focus on optimising the sales mix, enhancing customer and supplier relationships and using modern technology has led to operational improvements across the business.
“In light of the ongoing challenges posed by widespread inflation and rising costs across all sectors, we remain committed to delivering value, fostering innovation and supporting our loyal customer base.”
Earlier this year, UWS unveiled its ambitious plans to grow the business, raising turnover to £500m by 2030, up from about £300m at the end of 2024.
Central to this ambitious growth strategy is a renewed focus on its Day-Today and USave symbol stores, alongside a reinforced proposition for independent operators.
UWS' latest acquisition of Times Wholesale has added a fourth cash and carry location to the Unitas member’s network , allowing the firm to expand further in the UK’s retail network.
The acquisition of TWS depot is expected to further also boost the growth of UWS' ’symbol group stores on the streets of London.
For symbol retailers, UWS aims to roll out substantial refits across 150 stores, backed by a bespoke EPOS system called Upos, developed in collaboration with Scottish retail tech firm MHouse.
On the wholesale side, UWS is planning major infrastructure investments.
The M9 depot at Grangemouth and the Maxwell Road site in Glasgow are both set for extensions, with the addition of a new depot to further strengthen distribution capacity. The chilled and frozen ranges are also getting a significant upgrade to meet growing demand.
For independents, the launch of the United Retail Club is poised to drive footfall by providing exclusive promotions, while a new Loyalty Programme, Vape Club, and Tobacco Club will incentivise retailers to comply with UWS promotional strategies.