Pricecheck has reported a 16% growth in turnover to £151.7m for the year ending April 2024, with operating profit margins increasing from 1.42% to 2.77% which the company is attributing to strong revenue increases combined with cost control measures and reduced bad debt.
The Sheffield-based wholesaler has also stated that it is looking to achieve revenue growth of at least 20% for year ending April 2025, with operating margins also improving as it starts to realise the benefits of investments in infrastructure, people and technology.
Read more: Interview: Pricecheck on its export strategy
Joint managing director Mark Lythe said: “The business has shown great resilience during the challenges of the last five years. Revenue growth during this period has averaged 14% per annum and we have firmly established ourselves as a trusted distribution partner for a growing portfolio of FMCG brands.
“We couldn’t achieve this growth without continued focus and determination from our team and gaining independent accreditation from Great Place to Work in August 2024 further cemented our dedication to building a culture which enables, supports and celebrates our people. Overall, we’re very confident about the future prospects for Pricecheck and we’re looking forward to a busy and exciting year ahead!”
