Filshill increases turnover amid market challenges

Simon Hannah

JW Filshill saw turnover increase 7.3% to £155m in the year ending January 31, 2019, up from £145m the previous year.

The wholesaler said strong growth was reflected across all product categories and delivered alongside consistent gross profit of 8.3%.

Keith Geddes, Filshill’s Finance Director, admitted “the Brexit process had added a level of uncertainty to the business as it has done across all industries”, but said: “We believe that we have taken the necessary steps to minimise the associated risks and take advantage of the corresponding opportunities.”

Geddes said Filshill would offset the effects of the Living Wage, pension regulation and fuel prices through by improving operational efficiency and maximising the use of technology and data.

Managing Director Simon Hannah (pictured) pointed to a “highly competitive and challenging” independent retail marketplace with consolidation continuing apace.

He said: “We seek to manage the principal risk of losing customers by aiming to deliver best-in-class customer service, and we are well positioned to continue to take advantage of the opportunities we are creating and delivering growth.”

Pointing to Filshill’s balance sheet, showing net current assets of £10.3m, up from £9.8m last year, Hannah said: “The directors are pleased with the company performance and are confident that profits will continue at a satisfactory level.”

Filshill, which also supplies local craft beer, spirits and other grocery products to international markets, recently announced plans to relocate to a purpose-built distribution centre at Westway Park, near Glasgow Airport.

During the year the company continued to support many local community programmes and good causes as part of its ongoing commitment to corporate social responsibility. It also implemented several energy-saving initiatives.