Cash and carry business Parfetts has awarded all of its members of staff a tax-free 4% bonus after achieving a record turnover of £570 million during its last financial year.
According to the Greater Manchester, UK-based company, the award follows a series of bonuses paid out at “busy points” in 2020 along with a Christmas bonus to “recognise the hard work of staff through lockdown”, as well as a period of unprecedented growth. Parfetts employees also received an annual profit share in October.
The business, which has grown 85% in the last five years and has been employee-owned since 2008, cited an increase of “rapidly expanding” community convenience store Go Local fascia sales as an additional reason for the bonus as well as the record turnover. As a result, Go Local finished the year with more than 850 retailers and launched an off-licence focused fascia called The Local.
Parfetts also announced that due to the organisation’s performance, it has increased its geographical reach by expanding its delivered service into the Midlands region, while its online presence continues to grow to more than 40% of all orders.
Guy Swindell, joint managing director of Parfetts, commented that everyone on the team has gone above and beyond this year to help retailers navigate the challenges of lockdowns and restrictions across the business’ operating regions.
“As an employee-owned business, we are able to reinvest back into the business to rapidly advance our plans for depot growth, the expansion of our delivered service and our fascia operations. Our retailers continue to tell us they appreciate the personal approach along with great availability and great value,” he said.
Swindell added that as the business enters the next financial year, the board is committed to continuing to grow the business and believes there are still “significant” opportunities to do so, citing the hard work of all employees as the reason why it can be achieved.