The London-based wholesaler achieved this despite revenue falling from just over £270m in the previous year to £249.6m in its most recent results.
Profit after tax was also down from £19.5m a year earlier, which JJ Foodservice attributed to “challenging market conditions” which saw the number of operational hospitality venues decline by 2.5%. Distributions costs and administrative expenses incurred by the business also saw a minor increase in the past year.
The firm said it took every effort to keep costs under control while maintaining its focus on long-term growth and a commitment to quality and service.
JJ Foodservice also completed the acquisition of Asian specialist wholesaler Gatelands Supplies, which has several Thai, Japanese, Korean and Chinese restaurants as clients.
It also purchased a freehold warehouse in Wimbledon to allow it to more efficiently supply its customers.
Overall, JJ Foodservice now has 12 distribution sites nationwide and more than 100,000 100,000 registered customers that include restaurants, pubs, takeaways, schools, hotels, local authorities and retirement homes.
‘Diversification is key to growth’
“The past year has not been easy for the restaurant and catering sector,” commented managing director Mushtaque Ahmed.
“High inflation made it challenging for our customers to manage costs and while inflation has eased, we’re still seeing an impact with fewer hospitality venues in operation.”
On the acquisition, Ahmed added: “Our priority is quality and service, and our customers are integral to this journey. The Gatelands deal has opened up new sectors and allowed our existing customers to add fresh Asian flavours to their menus – this diversification is key to our growth.”
Looking ahead, he said: “Our goal is to extend this approach to other cuisines, including Japanese, Korean, Turkish and Italian.”
In other news, representatives from Unite the Union have taken part in protests outside the offices of the biggest shareholders in Bakkavor as strike action continues at one of its UK production plants.
