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Conviviality's revenues rise as it performs in line with expectations

Tue, 01st Nov 2016 11:28

(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 Matthew Clark, a drinks wholesaler, in October 2015, Peppermint, an events company, in December 2015 and wholesaler rival Bibendum PLB Group in May.The AIM-listed company said it is making progress with the integration of Matthew Clark and Bibendum ahead of plan, with synergies on track.For the Conviviality Direct business unit, which serves 23,000 outlets in hotels, pubs and restaurants, sales were up 5.2% generating sales of £515m.Conviviality Retail, a franchised off-licence and convenience chain, had a 2% rise in sales to £189m and like-for-like sales up 1.7% compared to last summer. LFL store revenue up 1.1%.In October Conviviality retail announced a two year supply agreement with Palmer & Harvey, a cash and carry, to provide lower volume beers wines and spirits.Conviviality Trading, a wine agency, sales increased 5.1% to £79m due to strong growth in Peppermint, the company's festivals and events business which was bought in December 2015.Chief executive Diana Hunter said: "I am pleased that the group has delivered this strong performance across all divisions during such a transformational period. This further demonstrates the teamwork and dedication of all of our people in maintaining excellent levels of service to their customers."The organic growth in each business unit demonstrates that existing and new customers are increasingly recognising Conviviality as the leading solution provider and distributor to the UK drinks market."Shares in Conviviality were up 4.39% to 214p at 1127 GMT.
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(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

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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

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18 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

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18 Jul 2016 06:54

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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

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3 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

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