Drinks wholesaler toasting another year of record results
LWC, the Manchester-based independent drinks wholesaler, has toasted record results, despite a sustained challenging operating landscape, it said.
Its results for the fiscal year ending September 2023, reveal a 15.1% rise in revenues, of £609.9m, a new record, which helped generate a 34.6% increase in pre-tax profits of £38m, excluding the acquisition of Essex-based wholesaler, Hills Prospect.
During the reporting period the company significantly expanded its footprint, opening new distribution centres in Doncaster, Aylesbury and Andover.
Now boasting more than 1.3 million sq ft of warehouse space, the wholesaler also continued the roll-out of a new Warehouse Management System, a project that will see all depots increase efficiencies, customer order accuracy and service levels.
LWC’s Managing Director, Ebrahim Mukadam, said: “Although we continue to operate in an incredibly challenging market, with the ongoing cost-of-living crisis, staff shortages and price increases, LWC has continued to invest for the future.
“As a family business we have always focused on our future and long term growth, for both our customers and our colleagues, investing in new distribution centres, to ensure we can reach our customers wherever they are, and on time, and in new technologies to improve our depot service levels.”
He added: “We will not let a challenging market deter us from our ambitions.
“I can proudly report that our On Time Delivery rate (OTD) is now at 99% – well above average for our industry – and this is something we simply could not have achieve without the re-investments we have made over the past year.
“Our objective is, and always has been, to deliver what our customers want, where they want, when they want. In order for us to continue to achieve this, we will continue to invest in our people, our infrastructure, and our brand portfolio.
“As always, I am incredibly grateful to our loyal customers who trust us with their business, and our incredible colleagues who are real the backbone of LWC.”
LWC has 230 vehicles on the road and 98 Account Managers, servicing 19 depots – including the recently acquired Glamorgan Wholesale – all supported by a 100-strong head office function at its support centre in Manchester.
The business has also placed a firm focus on its ESG strategy recently, with the introduction of a Women’s Network, updates to its parental leave policy, the formation of a national charity committee, and a sustainability committee.
