Wines and spirits merchant Jeroboams has reported a 45% jump in pre-tax profits to £339,000 for the year to 31 March 2014.

MD Steve Gamble told The Grocer the increase was due to an increased turnover, up 4% to £20.5m, and reduced costs.

He added that the company, which has seven outlets in London and is ranked 42nd on The Grocer’s Top 50 UK independent grocery operators, had had a positive start to its financial year - in line with budget and ahead of 2013.

Gamble also revealed the company would roll out a new website this October. “We are very excited about the opportunities this service will present,” he said.