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Birmingham Post
Birmingham Post
Business
Tom Houghton

Parfetts pays out huge bonus to all staff after £570m record year

A Greater Manchester-based cash and carry firm has awarded all staff a tax-free, 4% bonus after a record year that saw turnover hit £570m.

Stockport-based Parfetts said the move follows a series of bonuses throughout the year to "recognise the hard work of staff through lockdown" - and a period of unprecedented growth.

The wholesaler, which has grown 85% in the last five years, said as well as a record turnover, sales from the "rapidly expanding" Go Local fascia had also increased.

Parfetts also announced that it had expanded its geographical reach by expanding its delivered service into the Midlands, and saw its online presence continues to grow to over 40% of all orders.

It saw Go Local finish the year with over 850 retailers in the fascia and launched an off-licence focused fascia, The Local.

Guy Swindell, joint managing director, said: “Everyone at Parfetts has gone above and beyond this year to help retailers navigate the challenges of lockdowns and restrictions across our regions.

“As an employee-owned business, we are able to reinvest back into the business to rapidly advance our plans for depot growth, the expansion of our delivered service and our fascia operations.

"Our retailers continue to tell us they appreciate the personal approach along with great availability and great value.”

All depots showed sales growth in the previous financial year despite losing "significant sales" periods due to lockdowns.

Parfetts said it is working closely with suppliers to optimise availability as the economy recovers and restrictions are lifted.

Mr Swindell added: “As we enter the next financial year, the board is committed to continuing to grow the business and believes there are still significant opportunities to do so.

"It will again be the hard work of all colleagues that can make it achievable.”

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