TURNOVER and margins are ticking upwards at JW Filshill, the latest financial results for the Glasgow-based wholesaler reveal.
Despite a decline in tobacco sales, Filshill saw turnover increase 1.9% to £145 million in the year ending 31 January 2018, up from £142m the previous year.
When adjusted for the market-wide decline in tobacco revenue in the wake of stricter regulations, Filshill puts its turnover growth at 6.7%.
Margin for the wholesaler was up by 6.6%.
Simon Hannah, managing director at JW FIlshill, commented on the results: “Recent changes to the living wage, pension regulation and fuel prices continue to drive up our cost base but we continue to focus on offsetting these increases through a constant drive in improving operational efficiency and maximising our use of technology and data.”
“The strong performance in non-tobacco categories including soft drinks, grocery, food to go and fresh and chilled foods, and this change in the mix of business, helped to drive up gross margin.”