Hancocks Cash & Carry expands its range and access
Despite 'margin erosion and rising prices' leading to a downturn in profits, directors remain positive
Hancocks Cash & Carry planned to give retailers access to a wider range of products and improve access to its depots, according to the company’s newly released results for the year ending December 2018.
Despite a fall in profits, the company said it would open new cash and carry sites in 2019. The confectionery wholesaler, based in Leicestershire, saw pre-tax profits drop from £1.9m to £1.8m in the year to December 2018. Turnover also fell from £74.2m to £72.5m.
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A statement from Hancocks Cash & Carry said that margin erosion and rising prices had an impact on the business. However, directors were upbeat about the year ahead. “The company plans to continue developing the business through a widening of the product range, customers and markets including increased geographical coverage from new depot openings,” they said.
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