Profits fall £1m at UK arm of BWG

Saltash, UK: The UK arm of Irish grocery wholesaler BWG saw profit fall by just over  £1 million last year, largely because of investment in a new distribution facility for chilled and frozen food products, according to the Irish Times.

The financial results for Appleby Westward Group show that its operating profit dropped to £1.85m in the 12 months to the end of December 2010 compared with £2.87m in the previous year. The company’s turnover was flat at just under £136 million.

According to the Irish Times, the investment is understood to relate to a new distribution facility near Plymouth.

The financial report said it was the company’s intention to “continue to invest in the core activities of the business”.

Appleby Westward supplies Spar and Eurospar convenience stores and supermarkets in the southwest of England. It was acquired by BWG in the late 1990s.

The Irish Times says that these accounts provide the only information into trading at BWG because the company in Ireland is unlimited and does not have to publish its financial results.

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