Unitas has reported its first-ever operating loss in its recent report for the year ending 31 March 2024.
The loss of £231,000 was attributed to inflationary pressures and a restructure within the group. Profit before tax also more than halved to £180,000. During the same period, revenue fell from £11.5m to £11.2m.
Commenting on its strategy for growth, Unitas said: “The focus of the board over the year has been to optimise current operations and identify key workstreams and strategic priorities, which will define the future development of the group and ensure growth and beneficial value for members and suppliers.
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“The board has invested in three key areas: own-brand development, central services and supply-chain optimisation.
“The company is exposed to competition from multiple retailers for sales and other buying groups for members. As inflationary pressures continue in the supply chain, the company will focus on ensuring price increases are imposed on our membership in an equitable manner by suppliers, when measured against all other channels.”
Unitas managing director John Kinney had previously told our sister publication RN the company was focused on investing in its Local Living own label to help retailers cater to squeezed incomes during the cost-of-living crisis.
