LONDON (Alliance News) - Conviviality PLC on Thursday said it continues to perform in line with market expectations in its current financial year as revenue in the first half was ahead of the comparable period the year before.
The off-licence and convenience chain operator said group revenue in the 27 weeks ended November 1 was 38% ahead of the prior year at GBP252 million from GBP183 million, including revenue from drinks supplier Matthew Clark, which it acquired in October.
Conviviality Retail, which operates the franchised and company-owned stores, generated revenue of GBP191 million in the period, and Matthew Clark made up the remaining GBP61 million.
Like-for-like store revenue improved slightly to a 1.3% decline from a 1.7% decline, and Wine Rack continues to perform well with like-for-like sales up 5.3%, the company said.
"We have had a transformational first half of the year which culminated in the successful acquisition of Matthew Clark. 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 franchisee and retail business has also had a strong start to the year and we will continue to help our franchisees grow their businesses while also working to attract new franchisees to the group," Chief Executive Diana Hunter said in a statement.
Shares in Conviviality were trading up 0.5% at 201.00 pence Thursday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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