Parfetts annual turnover has grown to a record £733m from £696m in its results for the year ending 30 June 2025.
Despite the increase in turnover, profit for the year fell from £6.1m to £5.3m. Administration expenses for the wholesaler rose from £48.8m to £54.3m, while further pressures were faced from increases to the National Living Wage and lowering of the Employer National Insurance threshold.
Explaining the growth, Parfetts said: “Sales remained strong throughout the financial year as increased demand from our retail customers has continued. An ongoing proactive approach to customer recruitment and retention, particularly within our delivered service, has seen continued expansion, while traditional cash and carry sales remain strong.
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“Focused improvements to our IT infrastructure and a focused approach to stock procurement and stock availability has meant we are well placed to achieve further sales growth and service our customers.”
Parfetts joint managing director Guy Swindell added: “Parfetts continues to invest in its IT infrastructure, with a clear focus on improving ordering, reporting, and overall efficiency for both retailers and suppliers. This includes ongoing enhancements to its core ordering platforms and the rollout of new customer-facing and supplier-facing apps designed to simplify the buying journey and improve access to data.”
Commenting further on the pressures, Parfetts added: “Card processing costs remain high, and while stabilised, they still represent a significant overhead (£2.9m 2024 and £2.6m 2025). Steps continue to be taken to mitigate this cost through increased use of alternative payment methods – with a new partnership with GoCardless being launched in August 2025.
“Across the industry, tobacco sales are in decline, and with overall sales growth, tobacco sales continue to represent a declining share within our product mix – these changes have resulted in an increase in the average sales margin achieved.”
