Berry Bros & Rudd’s sales hit a six-year high of £170.5m last year, according to the wine merchant’s latest full-year results.
Sales were up 17% year on year, boosted by strong en primeur sales and “increased performance across its portfolio in wine, spirits, storage and hospitality”, the London-based retailer said.
Operating profit stood at £6.3m for the year ending 31 March, up on £2.3m in FY2015/16. Adjusting for en primeur according to changes in accounting practice and Wine Lying Abroad sales, operating profit was £1.8m - a 23.4% uplift on the previous year.
“Strong” wine sales were accompanied by a 12% increase in spirits sales to £17.5m, which Berry Bros & Rudd said was boosted by “a sucessful year” for its own label whiskies in bottle and cask. It recently announced the extension of its spirits range by 100 SKUs, bringing its total number to 365.
The results were an “important milestone”, said Berry Bros & Rudd chief executive Dan Jago. “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 had the effect of “stabilising the existing business and delivering strong sales growth”, he added.
The news comes after Berry Bros & Rudd opened a new retail outlet at 63 Pall Mall, adjoining its original space at 3 St James Street, which is now being used for ‘wine-related services’, events and consultancy.
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