The number two cash & carry firm in the UK, Bestway has reported that annual turnover increased by 1.2% to £2.55bn from £2.52bn in 2013. Profit before tax for the year ended 30 June 2014 was up 44.7% to £267.1m from £184.6m in 2013.
Turnover in the wholesale business was £2.38bn as compared to £2.34bn in the corresponding period last year. Profit before tax for the year ended 30 June 2014 was £54.3m as compared to £54.2m in 2013.
Two years ago the group identified three major area on which it intended to focus in order to drive future growth. The key areas were Retail Symbol/Club Growth, Online Sales and Foodservice Distribution.
The firm’s three focus areas continue to grow robustly. Retail growth is driven by retail clubs, Best One and Xtra Local. These are the largest retail clubs in the UK with over 4,300 members and a turnover of £640m per year, an increase of 6.7% over 2013.
The online business continues to grow with over 26,000 registered users and web sales increased by 47.1% to £176.3m.
Bestway is the first wholesaler to introduce a fully functional smart phone app which quickly shot up the rankings to be amongst the top 10 apps in Apple’s App Store. The firm believes that the app will change customer shopping behaviour and to further reinforce our leadership in digital innovation.
The company is also now at the forefront of pioneering new technologies for the channel such as geo-fencing and i-beacons.
Bestway Batleys foodservice now has 23 contracts covering an extensive range of local authorities, NHS hospitals, schools, private ventures with another 22 tenders in place.
During the year, the Group invested in relaunching its flagship catering own label brand, Essentially Catering. The new range includes over 50 everyday catering products and was made available to the customers from February 2014. Foodservice turnover increased by 2.3% to £128.3m.
Mr Zameer Choudrey, the Group Chief Executive, said, “Despite a challenging business environment both in the UK and globally during the year under review, all the Group businesses continued to enhance their respective market share. In the last twelve months we have continued to demonstrate the strength of our business model and to create value for all our stakeholders.”