Royal Family's wine merchant to post first loss in recent memory

14 October, 2013

Berry Bros & Rudd is set to post a pre-tax loss of £7.3 million for the 2012-13 financial year as the 315-year-old wine merchant prepares to overhaul its business.

The Queen’s vintner will show that turnover also dipped 16% to £138 million in the year to March 31.

In the 2011-12 financial year BBRB posted a £1.4 million profit.

The financial accounts, due to be filed at Companies House this week, will show that it posted around £4m of exceptional items after an ongoing legal battle with its former wine distributor in Hong Kong.

As part of its overhaul the firm has also purchased wine agency Richard Walford & Co for £7 million and invested £3 million in opening fine wine companies in Asia.




Bookmark this


Site Search

COMMENT

Faith in fakes

One of the most fascinating stories in wine, fit to stand alongside the Judgement of Paris, is that of Rudy Kurniawan, a man who managed to fool friends, auction houses and experts into believing they were drinking some of the world’s most expensive wines.

Click for more »
Upcoming events

Polls

Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know

Facebook

Twitter