Sales have soared towards the £350m mark at one of the UK’s largest independent wholesalers of beers, wines, spirits and soft drinks, with the company also posting a healthy rise in profits.
LWC was founded 40 years ago, with its original founders still at the helm. It operates 14 depots across the country, with more than 13,500 on-trade customers.
The business supplies a wide range of businesses within the food and beverage and leisure space, including pubs and bars, hotels, restaurants, events and stadiums and purchasing groups; all of which have been badly affected by the lockdown measures.
For the year to 30 September 2019, Licensed Wholesale Company – trading as LWC Drinks – reported turnover of £346.5m compared to £310m the prior period.
Pre-tax profits were also up from £10.3m to £15.1m.
Directors said they were delighted with the results during a year in which LWC fully absorbed the 2018 acquisition of HT White & Company.
It also achieved strong sales between October 2019 and February 2020 but noted that rom March 2020, it was operating at reduced volumes due to the outbreak of Covid-19.
Managing director Ebrahim Mukadam told Insider: “Last year was another exceptional year for us; with 15 per cent growth and the purchase of our new site in Manchester, we managed to continue our journey of sustained profitable growth.
“There’s also no shying away from the fact that the last six months have been really tough for the hospitality industry, and us wholesalers supplying the sector are no exception to this.
“However, our consistent year-on-year growth and the fact that LWC owns all of its physical assets – from our 14 depots, to the trucks on the roads and a selection of our own brands – has certainly played its part in buoying us during these difficult trading times.”
LWC recently secured a multimillion-pound CLBILS facility from NatWest.