Conviviality sales up despite restructuring

01 February, 2016

Conviviality has announced revenues were up 38% to £252m for the half-year ending November 1, despite a company restructuing following the acquisition of Matthew Clark.

The UK on and off-trade supplier reported EBITDA was up 43% to £6.5m, profit before tax and exceptional items was up 2.8% to £3.3m and that gross margin was up 0.5% points to 10.0%.

Net debt of £98.5m reflects the acquisition of Matthew Clark, Conviviality said.

Diana Hunter, chief executive officer of Conviviality, said: “This is a strong set of results during a period of significant transformational change. With Matthew Clark we now have a firm foundation in the expansive on-trade market from which to build on, and our success over the important Christmas period gives us confidence that the second half will deliver further growth.

“I am pleased with the progress we have made to bring our two businesses together. I would like to thank all of our people, our franchisees, our on-trade customers and our suppliers who have contributed to our success.”

The group said trading since their reporting period has been strong, with group sales growth over Christmas (the two weeks to 3 January 2016) 13% above last year.

Champagne and sparkling wine saw sales increase 31%, premium bottled ales were up 300% and cases of craft ales were up 218%, the group said.





Comment

Dominic Roskrow

The serious business of bourbon

This is most odd. I’m standing with two American gentlemen in the corner of a very swish steak bar staring at a surreal painting of what we’re being told is a ship exploding as it sails towards a lighthouse. I think.

Click for more »

Events

Facebook

Twitter