Friday, December 15, 2017

Business expansion drives strong interim for Conviviality

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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.