Bestway Wholesale has reported a 10% increase in revenue in 2021 which it attributes to the agility of the business and maintaining stock availability in the face of industry-wide supply issues.
Its revenues during 2021 rose to £2.66bn – an increase of £220m, returning an operating pre-tax profit of £37.2m.
The business stated it “remained focused on ensuring operations were as smooth as possible alongside a heightened focus on stock availability to ensure it remained its customers’ partner of choice” as well as adapting to changing customer behaviours.
Managing director Dawood Pervez said the business stuck to its strategy despite challenges in the marketplace. “Aside from Covid-19, market conditions in the wholesale sector remained challenging, with supply chain issues, staff availability and inflationary pressures. We have also had to absorb the continued impact from the National Living Wage increases, as well as additional costs and the uncertainty surrounding Brexit.
“Despite these challenges, we remained committed to our strategic plans of offering improved service and convenience to customers and we continued to improve and manage availability of products during this period which resulted in a positive impact on sales.”
Lord Zameer Choudrey CBE, CEO of Bestway Group added: “The Group and all of its subsidiaries have shown immense resilience in 2021 and we are confident that we will continue to gain share during 2022.”
The wider Bestway Group saw a 10% growth in revenues during 2021, which reached £3.75 billion with operating pre-tax profit of £350 million. In addition to Bestway Wholesale, it includes Well Pharmacy, Bestway Cement and UBL, a private bank in Pakistan.
Its charitable arm, Bestway Foundation provided more than £270,000 in grants to students of South Asian origin to attend universities in the UK over the course of the year.