Conviviality says business is progressing well after Matthew Clark acquisition
Conviviality, the owner of the Bargain Booze chain and Wine Rack, saw its group revenue climb by 38% to £252 million in the 27 weeks to 1 November, including revenues from its acquisition of Matthew Clark on 7 October.
Excluding the impact of the acquisition, revenue was 4.4% higher year-on-year.
Conviviality Retail, which operates the franchised and company owned stores, generated revenues of £191 million in the period. Like-for-like store revenue improved slightly to -1.3% and Wine Rack continued to perform well with like-for-like sales up 5.3%.
Matthew Clark, which supplies 17,000 hotels, bars, restaurants and venues, generated revenues of £61 million from 7 October 2015 to 1 November 2015 compared to £59 million in the same period last year. Revenues in the 27 weeks to 1 November were 4% above the same period last year.
Diana Hunter, Conviviality chief executive, said: “We have had a transformational first half of the year which culminated in the successful acquisition of Matthew Clark.
“It is still early days in our ownership of this business however the integration is progressing well and we are pleased to have gained such a passionate and talented team.
“Our franchisee and retail business has also had a strong start to the year and we will continue to help our franchisees grow their businesses while also working to attract new franchisees to the group.”
Email this article to a friend
You need to be logged in to use this feature.
Please log in here