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Pin to quick picksConviviality Retail Share News (CVR)

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Conviviality posts solid interims, sees extra benefits from acquisition

Mon, 01st Feb 2016 10:35

(ShareCast News) - Half-year results from off-licence group Conviviality showed solid underlying growth in the retail business and plenty of encouraging signs from recently acquired wholesaler Matthew Clark.Group sales of £252m in the 27 weeks to 1 November were a 38% improvement on the equivalent period the year before, with earnings before interest, tax, depreciation and amortisation up 43% to £6.5m.Earnings per share were 3% higher at 3.8p and there was a 5% increase in the dividend to 2.1p per share.Chief executive Diana Hunter said the integration of Matthew Clark was well ahead of schedule, with a new organisational structure in place and negotiations to deliver the buying synergies now expected to deliver "significantly ahead of plan", benefiting the next financial year and onwards.In the retail arm, mainly under the Bargain Booze brand, comparable sales growth was 0.8%, with like-for-like retail sales down 1.3% and a flat EBITDA performance as franchisees maintained average profitability levels.A net 50 stores are expected to open in the full year.At Matthew Clark, revenue from the 7 October acquisition completetion to 1 November climbed 2.7% to £60.6m, with EBITDA up 10% to £2.1m.Since the deal completed, 841 new outlets have been signed up, an increase of 27% on the same period last year.Analysts at Investec upgrade 2017 forecast PBT by circa 6% and 2018 by circa 5%, and see upside risk."Realisation of synergies and continued delivery in core businesses should drive a re-rating, in our view," they added.WH Ireland raised estimates by 2.2% and 1.1% respectively and said it saw further upside for the shares in 2016.
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4 Apr 2018 15:25

C&C Group Finalises Takeover Of Conviviality Businesses

LONDON (Alliance News) - Irish drinks firm C&C Group PLC said Wednesday it has completed the purchase of Matthew Clark (Holdings) Ltd and Bibendum PLB (Topco) Ltd from it

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4 Apr 2018 14:22

Ex-Conviviality CEO Hunter Leaves Downing Strategic Non-Exec Role

LONDON (Alliance News) - Downing Strategic Micro-Cap Investment Trust PLC said on Wednesday Non-Executive Director Diana Hunter, former chief executive of Conviviality PLC, in

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4 Apr 2018 10:52

UPDATE: Conviviality Confirms Matthew Clark Sale Talks With C&C Group

LONDON (Alliance News) - Alcohol distributor Conviviality PLC on Wednesday confirmed that it is in talks with C&C Group PLC over sale of unit Matthew Clark company also it

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29 Mar 2018 09:53

Conviviality To Bring In Administrators After Failing To Secure Funds

LONDON (Alliance News) - Conviviality PLC on Thursday said it is to appoint administrators within 10 business days, a day after failing to secure GBP125.0 it needed to

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28 Mar 2018 18:08

Conviviality Fails To Raise GBP125 Million Needed To Recapitalise

LONDON (Alliance News) - Troubled alcoholic drinks wholesaler Conviviality PLC said on Wednesday it has failed to raised the full GBP125.0 million needed to the

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21 Mar 2018 18:30

Conviviality To Raise GBP125 Million, Again Lowers Earnings Estimates (ALLISS)

LONDON (Alliance News) - Conviviality PLC late Wednesday lowered its earnings expectations for a second time and said that it intends to raise GBP125 million it

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19 Mar 2018 12:58

Conviviality Boss Steps Aside Amid Cash Call For Surprise Tax Bill

LONDON (Alliance News) - Conviviality PLC said Monday that Chief Executive Officer Diana Hunter has stepped down from the troubled alcohol wholesaler as it continues to deal -

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16 Mar 2018 11:36

Conviviality Considers Equity Raise To Fund GBP30 Million Tax Bill (ALLISS)

LONDON (Alliance News) - Conviviality PLC said Friday it was considering an equity fundraise to help fund its GBP30 million tax bill overlooked after an as it a

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14 Mar 2018 17:30

UPDATE: Conviviality Cancels Interim Dividend To Resolve Funding Issue

LONDON (Alliance News) - Conviviality PLC late Wednesday said that it will cancel its interim dividend to resolve its short term funding requirements.The company said a

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14 Mar 2018 10:50

Conviviality Suspends Shares As Seeks Possible Funding To Pay Tax Bill

LONDON (Alliance News) - Shares in Conviviality PLC were suspended from trading Wednesday as it considers its funding requirements in order to pay an unexpected tax bill which

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9 Mar 2018 14:13

DIRECTOR DEALINGS: Conviviality Chief Financial Officer Buys Shares

LONDON (Alliance News) - Alcohol distributor Conviviality PLC said that Chief Financial Officer Mark Moran bought shares in company in transaction on Friday.Moran at at

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9 Mar 2018 12:41

DIRECTOR DEALINGS: Conviviality Chief Executive Officer Buys Shares

LONDON (Alliance News) - Conviviality PLC said that Chief Executive Officer Diana Hunter bought shares in the alcohol distributor on Friday.Hunter purchased 44,176 at

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9 Mar 2018 10:40

WINNERS & LOSERS SUMMARY: RM2 Jumps As It Sees Positive 2019 Earnings

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------Anglo American, up the

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8 Mar 2018 15:37

Conviviality Shares Fall As Earnings Set To Be Below Expectations

LONDON (Alliance News) - Shares fell in Conviviality PLC on Thursday as it said it expects earnings for its current year to be below market expectations.Shares in the a

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3 Feb 2017 16:01

DIRECTOR DEALINGS: Conviviality Chairman Buys 10,000 Shares

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