Bargain Booze owner Conviviality posts strong results

14 July, 2014

Bargain Booze and Wine Rack owner Conviviality Retail has reported a pre-tax profits increase of 31.5% for the financial year ending April 27.

Pre-tax profits excluding exceptional items were £9.3 million, compared with £7.1 million the previous year.

Like-for-like retail sales climbed narrowly, up 0.05%. The group has a cash balance of £10 million and is debt-free.

Chief executive Diana Hunter said: “These are strong results achieved during a period of significant change for our business and we are making good progress to deliver our strategy. 

“We are seeing the benefits of a stronger relationship with our franchise partners, and many of our franchisees have seen their profits improve as a result.”

Conviviality said franchisee profit per store rose 10% and that franchisees were awarded 1.2 million shares, each worth £5,700, for hitting performance targets.

Average retail sales per store were up by £16,000 and gross profit margins increased 0.7%.

Hunter added: “We have a significant opportunity ahead and we are confident that the foundations we have put in place this year will deliver further improvements for our company, our franchise partners and investors.”




Bookmark this


Site Search

COMMENT

Donald Trump: the US has much to learn from history

The reasons Donald Trump should not be left in charge of a shopping trolley, let alone the keys to the White House, are plentiful and well-documented – from his use of the word “bigly” and lamentable business legacy to his dubious post-modern feminist principles, quite astonishing lack of political acumen and, most worrying of all, his bewildering hair. 

Click for more »
Upcoming events

Polls

Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know

Facebook

Twitter