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Berry Bros sees full-year sales soar 17%

British wine and spirits merchant Berry Bros & Rudd saw its full-year profits grow by 17% to hit £170.5 million (US$22m) in 2016/17, bolstered by a 12% increase in sales for the company’s spirits range.

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Berry Bros has reported a 17% increase to £170.5m in its 2016/17 results

The company’s spirits portfolio reached £17.5 million in sales, driven by a “successful” year for its own selection of whiskies, in both bottle and cask.

Revenue was also buoyed by strong sales of en primeur, own-label wines, and its “strongest hospitality year on-record” when more than 25,000 people attending over 1,000 events at its St James’s Street site.

Operating profit also rose 170.5% to £6.3 million, up from £2.3 million last year, a turnaround from a £2.8 million loss in 2014-15.

“Today’s results are an important milestone,” said Dan Jago, chief executive of Berry Bros & Rudd.

“Over the past 18 months, we have undergone a process of consolidation across all our business areas in order to simplify the organisation, its routes-to-market, and customer channels.

“This has had the desired effect of stabilising the existing business and delivering strong sales growth.”

The company also wrote off historic costs relating to IT infrastructure investment, as well as recording a loss on its US investment which impacted net profit. However, the company has “significantly cleaned up the balance sheet for future growth”.

Chairman Simon Berry added: “This is a terrific set of results. Together with Dan and the management team, we have succeeded in refocusing the company’s core priorities to ensure we are able to provide our customers with the quality and service they have come to expect from Berry Bros & Rudd.”

In May this year, Berry Bros & Rudd opened a second London store close to its historic St James’s Street address.

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