JW Filshill holds firm at £213m as rising costs hit profits

Operating profit falls 18%, while property revaluation boosts pre-tax profit by 72%.

Scottish food and drink wholesaler JW Filshill has reported an annual turnover of £213m for the year to 31 January 2026. The fifth-generation family business, based at Westway Park near Glasgow Airport, saw turnover broadly in line with the previous year’s £214m performance, despite a challenging market and rising operating costs.

Operating profit for the company fell 18% from £5m to £4.1m. This reduction was attributed to higher employers’ National Insurance contributions and increases to the minimum wage, which added to cost pressures.

However, profit before tax increased by 72% to £8.4m, up from £4.9m a year earlier. This rise was largely driven by the revaluation of JW Filshill’s investment-property portfolio, which includes its former Hillington headquarters, following the company’s 2023 move to its purpose-built distribution centre in Renfrew.

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Keith Geddes, JW Filshill’s chief financial and operating officer, stated that the business had continued to pursue its longer-term strategy while improving efficiency across its operation. He remarked: “We have continued to deliver against our clearly defined corporate strategy and ambitions and drive efficiency throughout our operation.” Mr Geddes added: “This improved efficiency is more essential than ever given the increase in costs driven mainly by changes to fuel, living wage and employers’ National Insurance costs.”

The directors are pleased with the company performance and are confident that profits will continue at a satisfactory level going forward. Mr Geddes also stressed the company’s focus on its future, stating: “The long-term success of the company is central to everything we do.”

Filshill, one of Scotland’s oldest independent food and drink wholesalers, celebrated its 150th anniversary in 2025. The company supplies its KeyStore convenience-store network, independent retailers throughout Scotland and the north of England, and a range of national accounts. The results reflect the broader pressures facing food and drink wholesalers, which are absorbing higher wage, payroll, and fuel costs within a highly competitive market.