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Bargain Booze owner posts first half sales uplift

Bargain Booze owner Conviviality has posted an increase in first half sales.

FOOD & DRINK

Bargain Booze owner posts first half sales uplift

Bargain Booze owner Conviviality has posted an increase in first half sales.

In the 26 weeks to 29 October, sales climbed by 9.2% to £836.3 million while adjusted EBITDA edged up 1.7% to £23.3 million.

The company’s retail arm saw a 10% uplift in sales compared to the corresponding period in the prior year. Like-for-like retail sales rose by 2.3% excluding tobacco and by 0.4% including tobacco.

Diana Hunter, chief executive of Conviviality, said: “Our customers and franchisees have continued to recognise the strength of the Conviviality proposition and the opportunities a single supplier and distribution solution affords them. This has been evidenced by our above market growth in both the on trade and the off trade during the period.

“We have made deliberate choices to successfully grow market share and enhance the quality of future earnings by agreeing long term contracts with our larger customers and securing new national account customers. These gains in market share coupled with our continued strong sales demonstrates our competitive advantage, the broad customer base we have developed and the robust nature of Conviviality as the UK’s leading drinks wholesaler, distributor and solution provider to our customers.”

Looking at more recent trading, the company said there was an 8.4% increase in group sales during November and December compared with the same period in the previous year. Conviviality Retail sales, including Central Convenience stores, climbed by 12.3% in the period. Meanwhile, there was a 0.6% uplift in retail like-for-like sales for the six weeks ended 31 December.

Hunter added: “Cost initiatives for the second half of the current financial year provide confidence for both achieving current year board expectations, as well as the group’s longer-term performance.”

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