Bargain Booze owner's sales and profits up
Off-licence chain Bargain Booze's owner Conviviality Retail has toasted surging full-year sales and profits as it continues to be boosted by a string of acquisitions.
Revenue rocketed 85 per cent to £1.56bn in the 12 months to April 30, while pre-tax profit jumped 147 per cent to £22.5m.
The group's performance was helped by the £200m acquisition of drinks supplier Matthew Clark, pop-up bar firm Peppermint and wine wholesaler Bibendum.
It has 15 Bargain Booze stores in Cumbria - four in Carlisle, three in Barrow and one each in Penrith, Millom, Windermere, Bowness, Kendal, Grange, Ulverston and Dalton.
Conviviality chief executive Diana Hunter said: "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.
"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 has also undergone a restructure, creating three separate business units - Conviviality Direct, Conviviality Retail and Conviviality Trading - which the firm also flagged as contributing to the strong results.
Conviviality runs Bargain Booze off-licences and the Wine Rack high street chain.
Ms 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."