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Farr Vintners reports strong trading

Published:  21 December, 2017

Fine wine trader Farr Vintners has reported its turnover for 2017 is up 25.5% hitting £96M.

Turnover consisted of £77M of physical sales and £19M of en primeur sales.

The company made sales to over 70 different countries during the year with 40% of sales being made in the UK; 40% in the Far East; 9% to USA; 8% to Europe and 3% to the rest of the world.

The majority (90%) of wine sold by Farr Vintners was French with 65% from Bordeaux, 15% from Burgundy and 5% champagne.

Chairman Stephen Browett said that Farr Vintners “modest” profit margin remained unchanged from 2016 to 2017.

During the year there was a “significant decrease” in its purchases in euros from France, which it attributed to the post-Brexit weakness of the pound.

In 2017, the wine trader bought back £20M worth of wine from its own customers and now holds £400M worth of stock in bond.

Browett revealed it was the fourth year of sales growth for the company. He said that he put the results down to the continued strength and position of the company in the global fine wine market, a strong 2016 Bordeaux en primeur campaign and increased export sales.

“All in all, 2017 has been an excellent year for Farr Vintners and I would like to take this opportunity to thank my fellow directors, staff, friends in the wine trade and customers far and wide for their continued loyalty and support,” Browett said:

The year also marked the company's first full year in its new purpose-built headquarters on the banks of the River Thames in Battersea.

Farr Vintners also donated over £400,000 to charity in 2017 which included a significant donation to “Cure Leukaemia” and a £100,000 in the annual “Room to Read” charity auction. In total over 100 charities were supported by Farr Vintners in 2017.