Conviviality Plc, the UK’s leading independent alcohol wholesaler serving consumers through the on-trade and through its Franchise retail estate, has announced its half year
results for the 27 weeks to 1 November 2015 (H1 FY15 26 weeks to 26 October 2014), together with an update on current trading.
Group financial highlights
• Revenue up 38% to £252.0m (H1 FY15: £182.9m)
• EBITDA up 43% to £6.5m (H1 FY15: £4.5m)
• Group profit before tax and exceptional items up 2.8% to £3.3m (H1 FY15: £3.2m)
• Adjusted profit before tax up 19% to £3.8m (H1 FY15: £3.2m)
Operational highlights
• Completed transformational acquisition of Matthew Clark on 7 October 2015
• New Board and organisational structure in place
• Integration of Matthew Clark ahead of plan
Conviviality Retail highlights
• Sales up 0.8% over the comparable 26 week period
• An improvement in like-for-like retail sales down 1.3%
• EBITDA in line with last year at £4.5m (H1 FY15: £4.5m)
• On track to meet full year net store opening growth target of 50
• Number of stores owned by multisite Franchisees up 7.4% to 276 (H1 FY15: 257)
• Average Franchisee profitability maintained
Matthew Clark highlights
• Revenue from 7 October to 1 November up 2.7% to £60.6m (corresponding prior period £59.0m)
• EBITDA of £2.1m up 10% on the corresponding prior period
• Acquired Peppermint on 31 December 2015 providing access to the fast growing events market
Christmas trading
• Strong Christmas trading in the two peak weeks to 3 January 2016 with Group sales growth 13% above last year
• Like-for-like retail sales during the two peak weeks up by 1.1% (Wine Rack up 11.1%)
• Champagne and sparkling wine saw sales increase 31% with four bottles of Prosecco sold every minute in the peak trading weeks; premium bottle ales up 300% and cases of craft ales up 218%
• Matthew Clark sales to outlets increased 20% in the two weeks to 3 January 2016.
CEO Diana Hunter (pictured) said, “This is a strong set of results during a period of significant transformational change. With Matthew Clark we now have a firm foundation in the expansive on-trade market from which to build on, and our success over the important
Christmas period gives us confidence that the second half will deliver further growth.
'I am pleased with the progress we have made to bring our two businesses together. I would like to thank all of our people, our Franchisees, our on trade customers and our suppliers who have contributed to our success.”