Tanners Wine Merchant's acquisition of Terry Platt Wine has helped return the business to profit.
In the year to 31 May, pre-tax profits at the new combined business were £183,818 a complete reversal on the £2,000 deficit posted by Tanners last year. Meanwhile, turnover was up by 11.5% to £17.4 million, of which £1.6 million came from Llandudno-based Platts.
Last year, Tanners blamed promotional activity at the multiples for pushing it into the red.
The independent retailer, which now owns five stores, said favourable exchange rates and close control of overheads had helped return the business to profit.
The business environment was still a challenge, it added in a statement. "However, we will continue to show flexibility and respond to market conditions and opportunities."
In the year to 31 May, pre-tax profits at the new combined business were £183,818 a complete reversal on the £2,000 deficit posted by Tanners last year. Meanwhile, turnover was up by 11.5% to £17.4 million, of which £1.6 million came from Llandudno-based Platts.
Last year, Tanners blamed promotional activity at the multiples for pushing it into the red.
The independent retailer, which now owns five stores, said favourable exchange rates and close control of overheads had helped return the business to profit.
The business environment was still a challenge, it added in a statement. "However, we will continue to show flexibility and respond to market conditions and opportunities."
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