Turnover maintained despite tobacco decline
JW FILSHILL’s latest financial results reveal stable turnover for the business from one year to the next.
The figures for the year ending 31 January 2020 reported a turnover of £155 million – the same figure as the previous year.
Keith Geddes, chief financial and operating officer at JW Filshill highlighted an industry-wide decline in tobacco sales as a challenge for the business, which had been offset by “sustained growth in other product categories.”
Geddes said the move from a cash-and-carry set up to click and collect at Filshill’s Hillington depot had been particularly successful for the firm.
“Living wage, pension regulation and fuel prices continue to drive up our cost base. However, our focus is on offsetting these increases through a constant drive in improving operational efficiency, maximising our use of technology and data, and recruiting new customers to our growing KeyStore symbol group.
“The market remains highly competitive and consolidation continues in the sector but we are well positioned to take advantage of the opportunities we are creating and continue to deliver growth outside of the tobacco category,” he said.
