The Bestway Group has announced its financial results for the year ended 30 June 2015 showing that annual turnover increased by 20% to £3.06bn from £2.55bn in 2014.
Profit before tax for the year ended 30 June 2015 was up 39.9% to £373.8m from £267.1m in 2014. All group businesses continued to be profitable.
During the year, the group acquired The Co-operative Pharmacy (now re-branded as Well Pharmacy) in the UK for £641.3m. Well Pharmacy is the UK’s 3rd largest retail pharmacy with 795 stores nationwide and represents a key diversification for the group.
Turnover in the wholesale business was £2.27bn as compared to £2.37bn in the corresponding period last year. Profit before tax for the year ended 30 June 2015 was £44.6m as compared to £49.2m in 2014.
During the year, the Best-one and Xtra Local retail club membership increased to 4,300 stores with a combined turnover of £650m. The group is further investing in this area by continuing its crusade on developing a market leading chilled, fresh and retail foodservice offering to help customers compete, as well as doubling the number of business development executives.
Bestway Batleys Foodservice signed on new contracts including Accuro Catering, Warwickshire Colleges and East Lancashire & Birmingham NHS hospitals. It was re-awarded two 4-year contracts worth over £24m.
Last year, the firm became the first wholesaler to introduce a fully functional mobile app. In a year, the app has been downloaded over 12,000 times. Net sales from the app during the year averaged £2m per month. We also introduced i-beacon technology in our depots that transmits promotional offers to customers’ smart phones as they shop in the depot. At our Abbey Road Depot we have become the first wholesaler to introduce Apple Pay which allows our customers to pay using their iPhone or iWatch.
During the year, the company completed the installation of 12 dedicated world food hubs in the depots that serve multicultural communities. It also created a multiple account division within Bestway Direct to service the supply requirements of multi-site forecourt and convenience operators.
In order to facilitate customers and improve their cash flows, the group removed all charges for credit card transactions and delivery surcharges. This underlines Bestway’s commitment to the wholesale sector and reiterates the group’s mission of 'Building Business for the Independents'.