Congratulations to our member and family-run business, Fiveways on another strong financial year which has seen the company record a turnover of £25.3m, as a result of a 4% increase in sales over the past 12 months.
Located at a key junction in Newry where the Armagh Road branches off to Belfast, Portadown and Dublin, Fiveways has grown spectacularly under the ownership of local businessman, Colm Meehan over the last 32 years, who has transformed the business from two single petrol pumps and a small independent shop into a 10,000 sq ft complex.
The complex now includes a barber’s shop, pharmacy, pet food store, hair and beauty salon, bridal store, in-store off licence, butchery counter, bakery, an American-style diner and deli counter which serves up more than 700 dinners each Sunday alone.
The business currently employs 207 staff, up from 196 in the previous year and it has an annual wages bill of more than £2.6 million.
The accounts, published on Companies House, show that gross profit, which represents a 21.6 per cent margin on turnover came in at £5.5m, which was up from £5.3m in 2018.
Profit before tax slipped back slightly from £1.8m to £1.3m and retained profit for the year, after providing for depreciation and tax, amounted to just shy of £1m, against £1.4m in the previous year.
In recent years, Fiveways has amassed a clutch of industry accolades, among them being included in the Investec Mid-Market 100 List as one of the UK’s fastest growing medium-sized businesses.
It has also bagged a clutch of “best supermarket” gongs, trading first under the Spar franchise and latterly as a Nisa operator, where it was cited as “a great example of independent retailing.”