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Don't have an account? Click here to register.Conviviality Retail reports profit growth despite fewer stores
Mon, 20th Jan 2014 07:34
Conviviality Retail, the owner of franchised off-licence convenience stores, reported a solid increase in profits despite a dip in revenue in its maiden first-half results as an AIM-listed company.Meanwhile, an update on trading showed that sales over Christmas were strong, with like-for-like (LFL) sales and average sales per store picking up.The firm, which owns brands such as Bargain Booze and Wine Rack, said that profit before tax excluding exceptional items rose to £2.2m in the 26 weeks to October 27th 2013, up 13.6% year-on-year.Retail sales, classed as sales by franchisees to customers, were down 5.2% at £261.9m during the period due to a "managed reduction" in store numbers to 592, from 616 at the start of the period.Nevertheless, the company reported a 1.5% increase in LFL franchisee retail sales, while average retail sales per store were up 4.9%.Wholesales sales, which are sales by Conviviality to its franchisees, were down 5.1% at £183.7m during the first half.The company, which joined the stock market in July 2013, declared an interim dividend of 2p per share.During the two weeks to January 5th, Conviviality said that LFL retail sales growth accelerated to 2.8%, with average sales per share rising 5.7% year-on-year. This was helped by strong sales growth in sparking wine and champagne sales, seasonal confectionery and beer.BC
More News
30 Jan 2017 07:46
Conviviality makes dividend a double as acquisitions put fizz in profits
(ShareCast News) - Alcoholic drinks retailer and wholesaler Conviviality doubled its interim dividend after after its acquisitions last year more than tripled first-half sales and almost quadrupled profits. As the integration continued of wholesalers Matthew Clark, acquired in October 2015, and Bibe
Read more23 Jan 2017 16:05
1 Nov 2016 11:28
Conviviality's revenues rise as it performs in line with expectations
(ShareCast News) - Food and drink wholesaler Conviviality revenues increased as it said it is performing in line with market expectations for the year. In an update for the 26 weeks to 30 October, total revenues were 211% ahead of last year to £783m, which includes revenues from the acquisitions of
Read more1 Aug 2016 11:40
David Robinson jumps to Conviviality from Argos
(ShareCast News) - Independent alcohol wholesaler Conviviality announced on Monday the appointment of David Robinson to the board as managing director of Conviviality Retail with immediate effect. The AIM-traded firm, which operates the Bargain Booze and Wine Rack brands, said Robinson joined the gr
Read more18 Jul 2016 10:15
Conviviality Retail toasts full year growth and new resilience
(ShareCast News) - Bargain Booze operator Conviviality Retail doubled annual earnings and cash flow and says it is a "stronger and more resilient business able to thrive in uncertain economic times". Revenues in the year to 1 May of £864.5m were 137% higher than the prior year thanks in part to the
Read more11 Jul 2016 15:06
20 May 2016 11:53
Conviviality sees annual EBITDA ahead of market views
(ShareCast News) - Conviviality sees its full-year EBITDA coming in marginally ahead of market expectations as the company confirmed sales up 137% to about £864m in the 53 weeks to 1 May. Wholesale sales were in line with the prior year and like-for-like retail (LFL) sales generated by its franchise
Read more3 May 2016 15:42
Conviviality buys Bibendum PLB for £60m
(ShareCast News) - UK alcohol wholesaler Conviviality has conditionally agreed to buy Bibendum PLB for £60m. Conviviality said the acquisition of Bibendum - a distributor and wholesaler of wine, spirit and beer to the UK on-trade and off-trade markets - will be funded through the placement of share
Read more