Parfetts has awarded staff its maximum annual sales bonus of 4% after delivering record turnover of £807m, up 10.6% on the previous year.
The performance marks a year of growth for the business, which has more than doubled sales over the past six years and is on track to achieve £1bn annual turnover within the next three years. The bonus forms part of Parfetts’ employee ownership model, which also includes an annual profit share.
Over the past 12 months, Parfetts has expanded into Scotland for the first time with its delivered wholesale service, while continuing to grow its symbol group presence north of the border. A major focus has also been the continued investment in its Southampton depot, which is driving expansion across London and the southeast, increasing capacity and enabling the wholesaler to support more independent retailers in one of the UK’s largest convenience markets.
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Joint managing director Guy Swindell said: “Our people are the reason Parfetts exists. As an employee-owned business, the success we create belongs to our colleagues. Rather than distributing profits to external shareholders, we reinvest in the business and reward the people who make that success possible.
Joint managing director Noel Robinson added: “This result reflects the strength of our employee ownership model and the commitment of colleagues across the business. Despite continued cost pressures across the wholesale sector, we’ve maintained strong momentum by focusing on helping independent retailers grow.
“Our investment strategy is creating the platform for our next phase of growth. The expansion of Southampton, alongside continued investment in our retail offer, own-brand development and technology, means we’re well on track to become a £1bn business within the next three years.
