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Many readers will recall the collapse of D&D Wines in 2012, leaving numerous wine suppliers from around the world owed large amounts of money for wine supplied. In such cases there is not usually much left for unsecured creditors once the liquidators have taken their fees. However, Australian producer Angove Family Winemakers was in an unusual position, which gave it a prospect of being paid in full. But Angove had to battle with D&D’s liquidators for nearly five years, and all the way to the UK Supreme Court, to obtain payment.
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Craft beer darling BrewDog has revealed turnover of £72 million in 2016.
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Conviviality, the owner of Bargain Booze, has seen sales nearly double in the past year to pass the £1.5bn mark.
The independent alcohol wholesaler and distributor, which agreed a £60m deal to acquire wine, spirit and beer distributor Bibendum in May last year, said sales were up from £841m to £1.56bn in a trading statement released this morning (52 w/e to 30 April, 2017).
Net debt was £99 million – “comfortably below” Conviviality’s target, it said, adding the positive results were in line with the board’s expectations.
The integration of Bibendum, together with wine wholesaler Matthew Clark which it bought in 2015, was “progressing well”, said chief executive, Diana Hunter.
"Our focus will continue to be on improving the business and ensuring that benefits are realised from our greater scale, as we drive efficiencies for the group and greater service for our customers.”
Conviviality, which re-organised its activities into three business units during the year – Direct, Retail and Trading, reported growth for each, with sales up 6.4%, 6.1% and 1% respectively.
"We have come to the end of an unprecedented year of change and I am pleased to report a strong trading performance for the group and for each of its business units,” said Hunter.
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Published: 29 March, 2017
The Fever Tree effect is responsible for the rapid growth of mixers over the past 12 months.
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Published: 16 March, 2017
Sainsbury's has warned of "very competitive" trading conditions in the wake of the post-Brexit sterling slump as the supermarket suffered a slight sales decline in the fourth quarter of the financial year.
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Published: 08 March, 2017
The gin renaissance has been in full swing for some time now, but new data has confirmed its position as the major cause of excitement - and growth - in the spirits category.
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Published: 03 March, 2017
Sales of bourbon could rival those of Scotch in the UK over the next five to ten years new data has shown.
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Published: 02 March, 2017
Halewood Wine & Spirit has acquired a majority stake in Lake District brewery Hawkshead marking its first foray into beer.
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Published: 24 February, 2017
New data shows that bulk wine diminishing in volume and value dogged the success of South African wine in the UK in 2016.
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Published: 23 February, 2017
Asda bosses said there is still a "lot of work to do" after the most recent sales figures showed some recovery for the ailing supermarket.
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Published: 21 February, 2017
The nation's thirst for Argentinian wine has showed no signs of being quenched with Concha y Toro reporting sparkling Christmas sales for Bodega Trivento.
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Published: 16 February, 2017
In the wake of the Brexit vote and the subsequent slump of the pound, the only upside was that the UK's exports seemed poised to become more attractive to oversees buyers.
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Published: 15 February, 2017
Heineken has found itself on the sharp end of currency depreciation and global financial headwinds.
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Published: 15 February, 2017
US wine exports - 90% from California - reached a record $1.62 billion in winery revenues in 2016, driven by the global reach of premumisation.
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Published: 14 February, 2017
It's Valentine's Day, which means consumers will be spurring on the nation's love of sparkling wine by heading to fizz shelves today.
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Published: 14 February, 2017
Treasury Wine Estates (TWE) is on its way to exceeding its 2016 full-year profit, having reached 75% of last year's full-year profit after tax while only half way through the year.
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Published: 10 February, 2017
Mark Carney, the Governor of the Bank of England, recently announced an increase in the annual growth forecast for the UK economy from 1.4% to 2%. But things may not be as good as they sound.
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Published: 09 February, 2017
French spirits group Pernod Ricard has beaten analysts' expectations for its half year results, boosted by sales Irish whiskey in the US and overall sales in China.
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Published: 03 February, 2017
Regional grocer Booths has seen sales of its own label grow following a re-development.
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Published: 30 January, 2017
Conviviality, the UK's largest drinks distributor, has reported triple digit growth in its half year results, issued today.
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