Palmer & Harvey has pushed pre-tax profit up 19% to £35m for the 52 weeks to 4 April, on a turnover up 6% to £4,466m.
Commenting on the results Chris Etherington, chairman and chief executive officer, said: “This has been a year of transformation for P&H. Our financial performance has been strong, and we have made significant strategic progress to support our long-term growth.
“Our partnership with Costcutter Supermarkets Group is delivering buying benefits to our customers and is operating well with an expanded number of stores. Our small drop expertise positions us well for the current changes in the grocery market which is seeing rapid expansion in convenience format stores.”
During the year P&H entered into an eight-year contract to supply Costcutter stores, and renewed a deal to supply 41 Moto service areas with ambient, chilled and frozen goods.
It also increased the number of company owned stores from 16 to 39 in the financial year, and opened a national distribution centre in Leeds and a chilled and frozen site in Avonmouth, having opened a new chilled and frozen depot in Belfast in March 2014.
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