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Conviviality reports strong results

Bargain Booze and Wine Rack owner Conviviality saw an increase in both sales and profit in the year to 30 April.

FOOD & DRINK

Conviviality reports strong results

Bargain Booze and Wine Rack owner Conviviality saw an increase in both sales and profit in the year to 30 April.

Revenue climbed by 85% to £1.56 billion while pre-tax profit rose by 147% to £22.5 million. Adjusted profit before tax was up 111% to £45.8 million.

Meanwhile, Conviviality Retail sales rose by 6.1% to £378 million.

During the year, the group acquired wine, spirit and beer distributor and wholesaler Bibendum and also made “significant” progress in its logistics improvement strategy with a reorganisation of depots and the opening of a new stockless outbase in Dundee.

Diana Hunter, chief executive of Conviviality, said: “I am pleased to report a strong set of results that demonstrate our focus and commitment to serving our customers well, working in partnership with our suppliers and delivering against our strategic plans.

“We firmly believe there is exciting potential for significant organic growth for our businesses, with further potential opportunities to build on the current platform.”

The company said trading in the nine weeks to 2 July was in line with expectations with Conviviality Retail like-for-like sales up 0.5% and Wine Rack sales up 4%.

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