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Bestway Group thrives amid market changes with 5% rise in revenue

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The acquisition of Lexon has reinforced the Group’s presence in the pharmacy sector

Well Pharmacy’s parent company, Bestway Group, announced on Wednesday (20 March) that it recorded a five per cent growth in revenues to £4.74 billion for the year ending June 2023, alongside a pre-tax profit of £420.9 million.

During the year, the company also completed acquisition of Lexon UK Holdings, a leading pharmaceutical wholesaler serving over 3,000 retail pharmacy customers across the UK and Eire.

Furthermore, the Group completed the construction of two cement plants in Pakistan, bringing its total cement manufacturing capacity to 15.3 million tonnes per annum.

Sir Anwar Pervez OBE, founder and chairman of Bestway Group, expressed optimism about the new business year and said: “The Group has continued on its growth trajectory in 2023 and we are confident that our businesses will continue to gain share within their respective markets during 2024.”

He added that the Group will continue to maintain organic growth across all its business while also providing them support for strategic investments and acquisitions.

The growth comes amidst global challenging times, highlighting the Group’s resilience and adaptability in navigating volatile market conditions.

Lord Choudrey CBE, Group Chief Executive of Bestway Group, elaborated that the environment throughout the year ending June 2023 has remained exceptionally volatile as “the world emerged from the Covid pandemic and came to terms with the macro-economic impact of the Ukraine-Russian conflict including significant global inflation.”

“Despite facing these immense challenges and the subsequent turbulence that we have seen across global markets I am pleased that the Group has retained its focus on growth, service and efficiency to support customers during this time and it has shown real resilience enabling the Group to exhibit both growth and stability.”

“The results are testament to the agility of our business model which will continue to deliver growth in the year ahead,” he added.

Bestway Group’s diverse business portfolio includes Bestway Wholesale (the UK’s largest independent food wholesaler), Well Pharmacy (the 2nd largest retail pharmacy chain in the UK), Bestway Cement (Pakistan’s largest cement manufacturer) and United Bank Limited (Pakistan’s 2nd largest private bank).

The addition of Lexon to Bestway Group’s portfolio has reinforced its presence in the pharmacy sector, solidifying its position as a key industry player.

Moreover, the Group continued its philanthropic approach throughout the year by donating over £2 million, and supporting various charities.

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