Parfett’s Enjoys a Record Trading Year
A strategy centred around everyday low pricing, availability, powerful promotions and great service to customers has delivered a record set of year end results for AG Parfett & Son.
For the year ending June 2018, the company has enjoyed its highest ever turnover of £346m (+6.8% from the previous financial year of £324m) and an equally stellar performance in profit, growing from £3.3m to £5.1m over the same period.
Greg Suszczenia, Joint Managing Director said, “The business has enjoyed another fantastic year with all areas of the company making a significant contribution to a great set of numbers. The market is always challenging and whilst we have benefited from the demise of two of our competitors, namely Palmer & Harvey and Conviviality, its testament to the Parfett’s offer that we continue to be attractive to win new customers to the Group.”
The market leading Go Local Retail Club and Symbol Group is still growing at pace and is a key part of the company strategy. Parfett’s are on course in the coming year to exceed the target of 3,000 retailers participating in the scheme, with 450 of those stores trading under the Go Local fascia.
Throughout the business, colleagues are working harder than ever to deliver a great experience to customers and all benefit from the trading performance through the Employee Ownership bonus scheme. With the growth in turnover and profitability, all colleagues (with a minimum of 12 months service) have been awarded bonuses of at least 8.0% of salary (6.03% FY17).