Conviviality Retail has raised a toast to sky-rocketing full-year sales and profits after a “transformational” year.
The parent company of alcohol retailers Bargain Booze and Wine Rack recorded an 85 per cent surge in revenue of £1.56 billion in the 12 months to April 30, while pre-tax profit jumped 147 per cent to £22.5 million.
The company was boosted by the £200 million acquisition of drinks supplier Matthew Clark, pop-up bar firm Peppermint, and wine wholesaler Bibendum.
“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,” Conviviality chief executive Diana Hunter said.
“The balance we have created across the enlarged group, and resilience this creates, gives us confidence in the future success of the business.”
The company added that an internal restructure which led to the creation of three separate business units – Conviviality Direct, Conviviality Retail and Conviviality Trading – also contributed to the strong results.
Hunter added: “Importantly, the culture that we have created at Conviviality, with its entrepreneurial and innovative focus, remains true across the group and we firmly believe there is exciting potential for significant organic growth for our businesses, with further potential opportunities to build on the current platform.”