Conviviality PLC enjoyed a “transformational first half of the year” as its acquisition of Matthew Clark drove increased profits.
Results for the 27 weeks to 1 November 2015 saw Group unaudited revenues increasing by 38% on last year, reaching £252m. Excluding Matthew Clark revenue, figures were 4.4% higher, emphasising the value of the acquisition of the alcoholic beverages distributor.
Like-for-like store revenue at Conviviality Retail improved slightly but remained negative at -1.3%, whilst Wine Rack saw an increase of 5.3% in like-for-like sales.
“We have had a transformational first half of the year which culminated in the successful acquisition of Matthew Clark,” said CEO of Conviviality PLC Diana Hunter.
“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 Franchise and Retail business has also had a strong start to the year and we will continue to help our franchises grow their businesses whilst also working to attract new franchises to the group.”
Matthew Clark currently supplies 17,000 hotels, bars, restaurants and venues. It was announced in September that Conviviality PLC, which also owns Bargain Booze, would acquire Matthew Clark in a £200m deal.
