Following its move to a new purpose built distribution centre last year, JW Filshill’s turnover has increased by 6% to £215m for the year ending January 31, 2024, with gross profit also up from £19.4m to £22.3m in the same period.
The Glasgow-based wholesaler’s net assets also increased to £21.6m from £18.9m and operating profit jumped from £2.9m to £4.2m
The move to a new headquarters near Glasgow Airport has allowed it to increase storage capacity from around 900,000 cases per month at Hillington to an optimum capacity of two million cases per month at the new depot.
Read more: Interview: Filshill on its expansion project
Keith Geddes, chief financial and operating officer, said improved growth and profitability was “particularly impressive” given that it relocated from its previous headquarters at Hillington to its purpose-built site in Renfrew during the period.
“The massive effort put in by all Filshill employees and the support we received from suppliers and customers was much appreciated,” he said. “The new facility is a major step forward in delivering our planned growth and business improvements, allowing us to push forward in achieving the ambitious targets we have set for ourselves over the short, medium, and long term.
“The investment in the new facility and other projects throughout the period has taken the level of investment in the future of the business to £6.6 million over the last two years and demonstrates the commitment and confidence we have in our future.”
Geddes added: “Operational efficiency generated from the new distribution centre has not only created significant benefits to the company and customers in terms of operational process but also in improved safety, and has led to additional capacity being generated which has allowed us to seek out new opportunities with our suppliers and customers. Our product availability to our customers is industry leading as a result.”
