Drinks wholesaler and distributor Conviviality has hailed a year of “unprecedented change” after revenue almost doubled to £1,560m.
Total group sales were up by £719m from £841m year on year in the 12 months to 30 April 2017, according to the company’s full-year trading update. Net debt stood “comfortably” at £99m.
The Conviviality Retail arm, comprising Bargain Booze, Select Convenience and Wine Rack, saw sales grow 6.1%, while Conviviality Direct, the business’ wholesale unit, which includes Matthew Clark and Bibendum, saw sales surge 6.4%.
Sales at branding agency Conviviality Trading grew 1%, which reflected “the agency business benefiting from the wider reach the group has to offer, coupled with new customers recognising the differentiation they can access from Conviviality’s events and experiential marketing business,” said the business.
Its focus would be on “improving the business and ensuring that benefits are realised from our greater scale” going forward, added CEO Diana Hunter. “It is encouraging to see our customers and suppliers benefiting from the skills and the expertise of the enlarged group.”