This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
News
Conviviality celebrates ‘strong’ full year results
Conviviality Plc has reported a “transformational” year of skyrocketing sales and profits, attributed to a flurry of acquisitions that its CEO says has made the business “more resilient”.
Conviviality Plc CEO Diana Hunter hailed the company’s “strong results”
In the firm’s first final full year results following its £200m purchase of Matthew Clark in October 2015, Conviviality has reported revenue growth of 137% to £864.5m– more than double its 2014-2015 fiscal sales, which stood at £364m.
Adjusted pre-tax profit, which excludes acquisition costs, rose 124% to £21.7m, while diluted earnings per share climbed 27% to 14.2p.
The firm saw revenue increase 0.8% to £366.9m, and EBITDA grow 135% to £30.2m.
The results to 1 May 2016 don’t include the company’s purchase of leading wine and spirits company Bibendum PLB for £60 million, which was announced on 3 May.
Additionally Conviviality also purchased London-based bar and events company Peppermint Bars in December.
The company said its integration plan was performing “ahead of expectations” for Matthew Clark and Bibendum, including a 4.9% increase in revenue to £497m for Matthew Clark between 7 October and 1 May.
Separately, Conviviality Retail saw sales increase 0.8% over the same period.
Conviviality Plc CEO, Diana Hunter, said: “These strong results reflect the hard work of our employees, franchisees and suppliers,” she said.
“Our franchisees in the off-trade and customers in the on-trade remain at the heart of our business as we continue to work together to blend their entrepreneurial skill with the branding, ranging and wholesale expertise of Conviviality.
“We look to the year ahead with a stronger and more resilient business able to thrive in uncertain economic times. It is our intention to continue to deliver against our integration plan during the year, ensuring the benefits are realised from our transformational acquisitions.”