Bargain Booze owner Conviviality Retail suffered a dip in like-for-like sales in the last year but achieved growth in business overall, according to its latest results.
Revenue for the 52 weeks to 26 April 2015 was up 2.4% to £364.1m on the back of a net increase of 29 in the store estate to take the total to 624. Like-for-like sales dropped by 1.7%, although franchisees achieved an increase in average profitability of 0.8%, according to Conviviality. Group profit before tax and exceptional items grew by 4.4% to £9.7m.
The company reported that 441 stores benefited from the new updated Bargain Booze fascia, with 10 Wine Rack stores also franchised through four different operators. In addition, the number of ‘Gold’ stores with top-tier standards increased from 78 to 305. Progress was also made on technology, with the group’s mobile app generating over 30,000 downloads and a ‘click and collect’ pilot scheme running across 66 stores.
Chief executive Diana Hunter said: “This is a strong set of results reflecting the hard work of our employees, franchisees and suppliers. Franchisees will remain at the heart of our business, as we continue to work together to blend the entrepreneurial skill of the franchisee with the branding, ranging and wholesale expertise of Conviviality.”
Last week Conviviality Retail confirmed that it was in discussions to acquire on-trade wholesaler Matthew Clark in a reverse takeover.