Bestway Wholesale saw a 10% growth in revenues during 2021 to £2.66bn – an increase of £220n, returning an operating pre-tax profit of £37.2m.
The company has put this down to its increase scale from the Costcutter acquisition as well as its ability to respond to changing customer behaviours.
Dawood Pervez, managing director of Bestway Wholesale, said: “Aside from Covid-19, market conditions in the wholesale sector remained challenging, with supply chain issues, staff availability and inflationary pressures. We have also had to absorb the continued impact from the National Living Wage increases, as well as additional costs and the uncertainty surrounding Brexit.
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“Despite these challenges, we remained committed to our strategic plans of offering improved service and convenience to customers and we continued to improve and manage availability of products during this period which resulted in a positive impact on sales.
“Despite the economic turbulence and challenges faced during 2021, the results are a testament to our strategic approach and operating model which has increasingly positioned us as the home of choice for the entrepreneurial retailer whether affiliated, or unaffiliated, and with a fascia to suit every retailer, regardless of size or location.I would like to sincerely thank all of our employees for the dedication and commitment they have shown during a very difficult period,” he added.
Bestway Wholesale is part of the wider Bestway Group, which saw a 10% growth in revenues during 2021, which reached £3.75bn with operating pre-tax profit of £350m.