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‘Robust’ Conviviality celebrates ‘strong’ H1
Conviviality has confirmed its group revenues soared 211% to £782.5 million in the first half of the firm’s fiscal year, credited to the successful integration of recent acquisitions.
The group credited the successful integration of its recent acquisitions for its H1 sales burst
For the 27 weeks to 30 October 2016, the group saw adjusted EBITDA increase 252% to £22.9m, with group profit before tax up 285% to £7.4m.
Adjusted profit before tax rose 295% to £15.4m, while adjusted diluted earnings per share were up up 142% to 9.2 pence.
The acquisitions of Matthew Clark in October 2015, Peppermint in December 2015 and Bibendum PLB Group in May 2016 enabled Conviviality to restructure its business model into three key business units: Conviviality Direct, wholesaler; Conviviality Retail, off-licence chain; and Conviviality Trading, full service brand and wine agency.
Conviviality Direct saw sales increase 5.2% over the comparable period, with a 1.5% increase in outlets supplied, while for Conviviality Retail sales were up 2.5%. Conviviality Trading experienced a 5.1% increase in sales compared to the corresponding prior period, with a 47% increase in ‘events’ sales.
Diana Hunter, CEO of Conviviality, said: “These strong results demonstrate our competitive advantage, the broad customer base we have developed and the robust nature of Conviviality as the UK’s leading drinks wholesaler, distributor and solution provider to our customers.
“We have successfully restructured to create three business units Conviviality Direct, Conviviality Retail and Conviviality Trading, each providing our customers and franchisees with unrivalled range, expert service and advice to meet their customer needs whilst providing our suppliers with unmatched access to routes to market across both the on- and off-trade.
“The recent acquisitions have resulted in Conviviality being well positioned in its market with a resilient business model that provides unique positioning for its suppliers and customers. We are also pleased to report that the Group continues to trade in line with expectations for the full year.”