AF Blakemore & Son Ltd, which serves over 800 Spar convenience stores alongside a wholesale and foodservice business, has reported its results for the year ended 27 April 2025, which show the impact of tougher trading conditions.
In a year defined by “decisive action to reset the business and early signs of momentum across its core growth engines,” the figures followed much stronger trading for the year ending April 2024.
The group admitted it was trading in a “more challenging environment,” as prolonged food inflation, declining demand in traditional categories of tobacco, vapes and alcohol and continued labour and energy cost pressures impacted its performance.
Group revenue reduced by 8.1% to £1.09bn, with underlying financial marker, EBITDA (pre-exceptional items) of £18.5m.
In response to customer behaviour and sustained cost inflation, the group has revealed it nevertheless made significant strategic progress during the year, “strengthening its foundations for growth.”
Grocery retail performance improved in the second half of the term however, with growth in chilled and frozen sales reported. This included successful store trials with Iceland, which is now scaling across the estate.
Spar stores’ momentum also accelerated following the new partnership with EGOTM, which now supports over 80 petrol forecourt stores with further growth anticipated.
Finally, the launch of Blakemore Partner Plus, Blakemore’s new independent trade terms, introduced increasingly competitive pricing and market leading rebates, it added.
Peter Blakemore (left), chairman, said: “While performance softened compared to an exceptionally strong prior year, the actions we have taken have strengthened our foundations and are already beginning to show positive momentum, particularly across wholesale and food solutions.
“We remain committed to reinvesting for the long term and are confident in the strategy for the years ahead.”
“As a family-owned business, we remain committed to reinvesting for the long term and are confident in the strategy we have in place for the years ahead.”
AF Blakemore added it expects to build on this early momentum, supported by a “lower cost base, improved productivity, new contract wins and continued investment in its retail estate and supply chain capabilities.”
Its adds that its long-term ambition remains unchanged, including growing Spar as the UK’s best community grocery retailer.
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