Dhamecha Group profit jumps nearly 9 per cent

LEADING cash and carry wholesaler Dhamecha Group has recorded nearly nine per cent increase in operating profit for the year ended March 31, 2019.

It also witnessed a five per cent increase in its turnover during the same year.

The annual results released earlier this week show turnover growing by £40 million to £793m in 2019, from £753m in the previous year.

Operating profit for the year was £13m, compared to £12m in 2018.

Net assets, another key performance indicator for the family business, have also seen an eight per cent jump to £82m from £76m in the previous year.

Pradip Dhamecha, Chief Executive of Dhamecha Group, said: “While we remain cautious about the current economic climate, we hope to demonstrate the strength of our business model with the continued support of our employees and successful relationships with our suppliers and customers.”

The board said, in its report, that they expect “further steady growth” in sales for 2019-20.