Prescot-headquartered fruit importer Peter Gilding & Co has returned to profit in a year which was hit by several challenges. The company imports fruit into the UK for sale directly to outlets and wholesale markets, operating from a four-acre site at Knowlsey Business Park.
For the year ended 31 October 2022, turnover dipped from £56.1m to £52.7m, but pre-tax profit stood at £384,315, up from a loss of £89,485 in the previous year. The company said that inflationary pressures were observed throughout the supply chain, and added that Brexit impacts "still continue to be felt".
The report noted that there has been a lag passing on any supply chain inflation, as contracts tend to be for a six-monthly basis, but added: "That said, multiples have had a shift in attitude and where, in the past, they pushed back on price rises, they have now accepted the inevitable." Sales values and margins were also hit by a global oversupply of product, the company said, while "supermarket price wars" had an impact on wholesale market sales.
Source: insidermedia.com
