Diana Hunter, Chief Executive Officer of Conviviality Retail PLC (LON:CVR), said: “We have had a transformational first half of the year which culminated in the successful acquisition of Matthew Clark. It is still early days in our ownership of this business however the integration is progressing well and we are pleased to have gained such a passionate and talented team. Our Franchisee and Retail business has also had a strong start to the year and we will continue to help our Franchisees grow their businesses while also working to attract new Franchisees to the Group.”
Conviviality Plc (AIM: CVR), the UK’s leading off licence and convenience chain and, following the recent acquisition of Matthew Clark, the UK’s leading independent wholesaler and distributor of alcoholic beverages to the on trade market, has given DirectorsTalk an update on trading for the 27 weeks to 1 November 2015.
Group unaudited revenues for the period were 38% ahead of last year at £252m (FY2015 H1 (26 weeks): £183m), which includes revenues from Matthew Clark since the acquisition on 7 October 2015, and 4.4% higher excluding the impact of the acquisition.
Conviviality Retail, which operates the franchised and Company owned stores, generated revenues of £191m in the 27 weeks to 1 November 2015 (FY2015 H1: £183m) with sales for the corresponding 26 week period up 0.4%. Like for like store revenue has improved slightly to -1.3% (FY2015 H1 and FY2015: -1.7%) and Wine Rack continues to perform well with like for like sales up 5.3%. The store opening pipeline is strong for the remainder of the year.
Matthew Clark, which supplies 17,000 hotels, bars, restaurants and venues, generated revenues of £61m from 7 October 2015 to 1 November 2015 compared to £59m in the same period last year. Revenues in the 27 weeks to 1 November are 4.0% above the same period last year.
Good progress is being made with the integration of Matthew Clark and the plan to deliver synergies is on track. Further details will be provided at the Half Year Results.
Conviviality continues to perform in line with market expectations for the 53 week period ending 1 May 2016. The Company will announce its Half Year Results for the 27 weeks to 1 November 2015 on 1 February 2016.
