AF Blakemore boosted by cash and carry exit
Chairman also suggests 'significant investment in technology' has helped Blakemore surge from strength to strength
AF Blakemore has attributed a growth in annual performance partly to its exit from the cash and carry market.
The Spar wholesaler completed the sale of its 12 cash and carry sites across the UK in September last year. In its results for the year ending 30 April, sales rose from £1.05bn to £1.07bn, while pre-tax profit grew from £8.5m to £10.2m. Despite the increase, turnover for the same period fell annually from £1.2bn to £1.1bn.
AF Blakemore chairman Peter Blakemore said: “The past year has seen the business make significant investment in technology to improve customer experience and collaboration with customers and trade partners. Blakemore retail has continued to improve its customer proposition by focusing on its fresh and foodservice strategy.”
The results follow Blakemore revealing that it would be using its foodservice business to help Spar retailers improve their food to go range.
Despite the increase in its annual figures, the wholesaler also warned it is expecting “lower levels of consumer confidence due to increased economic uncertainties”.
This article doesn't have any comments yet, be the first!
Register to comment and get exclusive content and subscribe to the online and print versions of Retail News.Become a member