Hull-headquartered Bonus Electrical Group saw sales increase by more than 40 per cent in its latest financial year as it embraced e-commerce in spectacular fashion.
The long-standing city wholesale and retail operator saw turnover increase from £21.1 million to £29.8 million in the year to July 2022, surpassing pre-Covid levels, with operating profit more than doubling, up from £1.5 million to £3.4 million.
It was a second successive year of growth after taking a 28 per cent hit during the pandemic. The company’s Willerby superstore had also been closed in the months leading up to the initial outbreak, with the business going on to launch a new website. It has subsequently relaunched a physical outlet on Witty Street, in a massively overhauled former fish processing site, post year-end.
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In his strategic report accompanying the results, Shaun Boanas, the third generation at the helm of the family firm - launched in 1962 - said: “The group has returned to full activity post Covid 19 with sales volumes fully recovered in the year. All arms of the business are showing good growth and in particular online sales.”
The company serves its online sales from the national distribution centre and head office on Kingswood, where it also operates a solar division, with further specialisms covering specialty kits and electical looms to industry and the manufacture of control systems. Staff numbers remained constant at 109.
From rented premises in Mytongate taken on by founder Eric Boanas, Bonus had expanded to a site just off Hessle Road - to which Witty Street runs parallel - and then Blackfriargate, with son Trevor taking over, opting to focus on the Grange Park Lane location for the final 15 years as a bricks and mortar retailer. That is now part of Allenby Commercial's Trade Yard concept following a huge overhaul through the pandemic.
The sponsor behind the city's entertainment arena, Bonus was also a key name behind Hull City, returning as a 20th anniversary stadium partner this past season.
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