Filshill, a Glasgow-based fifth-generation business that supplies KeyStore convenience stores and independent retailers across Scotland and the north of England, has reported positive financial results. Operating profits for the company rose from £2.7m to £2.9m. Additionally, Filshill recorded a gross profit of £19.4m, up from £17m, with net assets increasing to £18.9m compared to £17.1m in the previous year.
Despite the challenges posed by the Covid pandemic and the delay in moving to its new facility, Filshill achieved these impressive results. The company’s Chief Financial and Operating Officer, Keith Geddes, expressed particular satisfaction in light of the economic rebalancing and operational capacity limitations the company faced.
However, Filshill successfully managed to navigate these obstacles, even as it absorbed increased operating costs associated with supporting employees through the cost of living crisis, fuel price hikes, and rising inflation.
In March, Filshill relocated to new purpose-built premises at Westway Park near Glasgow Airport, contributing to its success. Geddes emphasized the positive impact of this move on the company’s operational efficiency and its plans for future growth.
The integration of the Iain Hill business in 2022 and the ongoing success of the previously acquired Eldorado Tonic Wine brand were also sources of satisfaction for Geddes.
To address supply issues, Filshill prioritized the establishment of strong, partnership-based relationships with customers and key suppliers. This commitment to excellence consistently earns Filshill recognition, including a recent independent survey conducted by The Advantage Group. Voted number one by suppliers across its key competitors for the thirteenth consecutive year, Filshill values these relationships highly.
The company is also dedicated to reducing its carbon footprint. Filshill has identified areas where it can positively influence carbon reduction and is actively working towards achieving a net-zero emissions position. The recent purchase of two new 18-tonne electric vehicles is a significant step forward in the company’s strategy to introduce electric and hybrid vehicles.
Filshill’s commitment to corporate social responsibility remains unwavering. The company continued its support of local community programs and causes while actively prioritizing employee health and well-being, specifically mental health. Recently, Filshill hosted its first Filshill Family Day at Finlaystone Country Park, which saw the participation of over 300 employees and their families.
In conclusion, Filshill’s strong financial performance, dedication to sustainability, and commitment to community engagement demonstrate its resilience and dedication to continued success.
