Renfrew food and drinks firm enjoys £1m profit boost as employees praised

Calam Pengilly

23 September 2024 at 7:15 am·2-min read

Keith Geddes and Simon Hannah at JW Filshill's Westway Park base — -Credit: (Image: JW Filshill)

Renfrew-based food and drink wholesaler JW Filshill Ltd is celebrating a bumper year for profits after seeing its turnover increase by £12 million.

In the year ending January 31, 2024, the historic firm saw its income hit an impressive £215 million – a six per cent increase from £203 million the year before.

The fifth-generation business, which is based at Westway Park near Glasgow Airport and marks its 150th anniversary in next year, saw operating profit during the period jump from £2.9m to £4.2m.

The company supplies over 200 KeyStore convenience stores and 1,600 independent retailers across Scotland and the north of England, and holds national accounts with bodies such as the Scottish Prison Service. It recently had a hand in the move of Paisley KeyStore operator Jack Singh who opened a new store in the west end last month.

Filshill recorded gross profit of £22.3m – up from £19.4m – while net assets increased to £21.6m compared to £18.9m the previous year.

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 firm set up in the area in March 2023 with a new distribution centre. Mr Geddes said: “The massive effort put in by all Filshill employees and the support we received from suppliers and customers was much appreciated.

“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 £6.6m over the last two years and demonstrates the commitment and confidence we have in our future.”

Mr 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.”

JW Filshill Ltd was founded in Glasgow in 1875 and is a member of Unitas Wholesale – the largest wholesale services company in the UK – with a buying power in excess of £8 billion. The company employs 235 people.

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