Wholesaler positive as it reveals annual results
WHOLESALER JW Filshill has reported a strong set of financial results for the year ending 31 January.
The fifth-generation business saw turnover increase to £203million – up 2% from £199million.
The firm, which supplies KeyStore shops and independent retailers across Scotland and the north of England, saw operating profits rise from £2.7million to £2.9million.
Filshill, which moved from Hillington to new purpose-built premises at Westway Park, near Glasgow Airport, in March, recorded a gross profit of £19.4million, up from £17million.
Net assets increased to £18.9million compared with £17.1million the previous 12 months.
Finance boss Keith Geddes highlighted that the “positive results had been achieved despite increases in operating costs absorbed by the business in supporting employees through the cost-of-living crisis, fuel price increases and recent rising inflation”.
Chief executive Simon Hannah added: “The long-term success of the company is central to everything we do.
“We invest in long-term return projects to protect future revenue streams.
“This includes constantly updating our technology, equipment and vehicle fleet – an approach that has resulted in greater efficiencies and customer satisfaction.”
