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Boutinot reveals rise in sales and profits

Published:  03 June, 2019

Boutinot has reported turnover increased to £139.6 million for the year ending 31 August 2018, up 4.5% on the previous year.

For the UK alone, it said sales rose to £119.8 million, up 4% on the year before.

Pre-tax profits also jumped 49% to £3.3 million compared to the previous year, according to accounts filed at Companies House.

It said the year saw “steady growth in the UK market, with sales to the on-trade sector continuing to forge ahead despite the challenging environment for restaurants. Strategic focus on independents also helped maintain the group’s strong position within this important sector.”

It added the growth had come “despite the uncertain economic environment in the UK” caused by the ongoing Brexit negotiations, but said the “robustness of the group’s operations, the strong relationships that have been built, and the investments that are in place will ensure the group will continue to thrive regardless of the final outcome”.

It also said it had repaid the “final tranche of its post buyout finance in the first quarter of 2019, putting in a strong position to further fund its expansion both in the UK and internationally, and to continue investing in its wine projects".

These included investment to expand the production of English sparkling wine at the Henners winery which it said delivered an “excellent” 2018 harvest.

For the rest of Europe sales were up 2% to £10.9 million, and for the rest of the world sales were up 19% to £8.8 million.

The company said it would “continue to look for opportunities to expand worldwide production capacity”, including investing in its Wildeberg property in South Africa.