Member Article

Crewe’s Conviviality Retail report pretax profit of £3.2 million

Crewe’s Conviviality Retail, the off-licence and convenience store group report its pretax profit has increased by 46.7% to £3.2 million.

The group which includes the chain, Bargain Booze report that average store revenue per week is up 0.7%.

These positive results come despite closures of underperforming stores.

Chief Executive Officer of Conviviality, Diana Hunter, said: “I am pleased with our first half year results which are in line with our expectations in a highly competitive market.

“Despite closures of underperforming stores in the period and the integration of the Rhythm and Booze units, sales have been maintained and store numbers have started to grow as we open higher quality outlets.

“This has led to increased profits for both the Company and its Franchisees.

“We now have a solid platform from which to accelerate Franchisee growth, our pilot with Scotmid demonstrates the potential for Bargain Booze to expand throughout the UK, and with our strong balance sheet we have the ability to exploit growth opportunities as they arise.

“I am confident in the progress we have made and I would like to thank our Franchisees, Employees and Suppliers for their commitment and the important part they all play in achieving these results.”

This was posted in Bdaily's Members' News section by Sophia Taha .