Family business in Gloucestershire sees turnover rise above £22 million

One of Gloucestershire’s biggest family firms, Badham Pharmacy, has said it remained confident of further organic growth and even acquisitions of other businesses, announcing turnover had risen to a record high of £22 million.

While its costs were impacted significantly by the pandemic, it continued to add to its portfolio of pharmacies and turnover, which pre-pandemic in 2019 stood at 19 businesses and £18 million respectively.

In the year to March 2022, covered by its just-published annual accounts, the Bishops Cleeve-headquartered business saw most growth in its ‘ethical pharmacy business’, with sales rising from £18.65 million to £20.5 million. Its retail pharmacy sales rose from £1.6 million to £1.7 million.

Back in 2019, the number of items it dispensed stood at 1.9 million. By 2021, that figure had reached two million and is now 240,000 items higher and rising.

Peter Badham, managing director of Badham Pharmacy and the son of founder, Richard Badham, said: 'During the year, the company continued to grow its retail operations through organic growth and acquisitions from previous years.’

The business, founded in 1940, also acquired a new pharmacy license during the year in Prestbury, Cheltenham, said Badham.

He added: ‘At the end of the year, the company had 22 pharmacies across Gloucestershire and one pharmacy in Bristol. The pharmacies are supported by a mobility shop.’

'The impact from funding cuts to the NHS budget will provide a tough environment for pharmacies to operate in, however, the directors remain confident that they will be able to increase the profitability of the company through organic growth and acquisitions.'

Staff numbers at the business grew by three last year to 178.