Bestway has reported a 44.7% increase in pre-tax profits, from £184.6m to £276.1m for the year ending June 30 2014.

The symbol group and wholesaler’s annual turnover increased by 1.2% to £2.55bn from £2.52bn in 2013.

Chief Executive Zameer Choudrey 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.”

The results followed the announcement of a five year investment programme costing £200m which aims to create 100 jobs across UK.