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Cash and carry group Bestway has announced record profits for its financial year ended June 2005, with an increase of 32% to £57.2m.
Group turnover over the same period was also up, by 21% to £1.35bn.
The results were boosted by the acquisition in January 2005 of the UK’s oldest cash and carry group, Batleys, for £100m. The acquisition took Bestway’s number of depots to 49.
In the five months since the acquisition, Batleys contributed £237m towards the group turnover and £3.9m to operating profits. It also increased Bestway’s market share in the wholesale sector to 17%.
The company, which serves more than 1,500 independent retailers through its Best-in and Best-one fascias as well as thousands of unaffiliated independents, also increased its property portfolio to £242.3m, an increase of 57% on the previous year.
Group chief executive Zameer Choudrey confirmed that the company was particularly pleased with the results because they did not include the full impact of Batleys.
Group turnover over the same period was also up, by 21% to £1.35bn.
The results were boosted by the acquisition in January 2005 of the UK’s oldest cash and carry group, Batleys, for £100m. The acquisition took Bestway’s number of depots to 49.
In the five months since the acquisition, Batleys contributed £237m towards the group turnover and £3.9m to operating profits. It also increased Bestway’s market share in the wholesale sector to 17%.
The company, which serves more than 1,500 independent retailers through its Best-in and Best-one fascias as well as thousands of unaffiliated independents, also increased its property portfolio to £242.3m, an increase of 57% on the previous year.
Group chief executive Zameer Choudrey confirmed that the company was particularly pleased with the results because they did not include the full impact of Batleys.
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