Sugro is set to achieve a 10% increase in turnover to more than £1bn in 2016, according to managing director Philip Jenkins.

The buying group has benefited from strong member trading performance and successful new wholesaler recruitment, Jenkins revealed at a recent presentation.

He added that members were benefiting from initiatives such as the Cash Bonanza and Bonus Ball feature, which will coincide with major sporting events in June and July.

“We are very pleased with the present performance of Sugro UK and its members, but we will continue to enhance our sector-leading trading strategies in the future to meet the challenages of an increasingly competitive marketplace,” he said.