En primeur success helps Berry Bros revenue reach six-year high
London fine wine retailer Berry Bros & Rudd has recorded a six-year revenue high, buoyed by strong sales of en primeur and own-label wines.
The company said en primeur sales had been the third highest in its history reflecting the quality and size of harvests in Bordeaux and Burgundy.
Sales of own-label wines were up 22% and spirits sales increased by 12%, driven by success in its own Scotch whisky bottlings and casks.
Revenue from hospitality set a new record for the family-owned firm with 25,000 people attending over 1,000 events at its premises in London’s West End.
Total revenue was up 17% to £170.5 million in the year to March, its highest level since 2011.
Operating profit rose from £2.3 million to £6.3 million. Two years ago, the company posted a loss of £2.8 million.
Chief executive Dan Jago said: “Today’s results are an important milestone. Over the past 18 months, we have undergone a process of consolidation across all our business areas in order to simplify the organisation, its routes-to-market and customer channels.
“This has had the desired effect of stabilising the existing business and delivering strong sales growth.”
Chairman Simon Berry added: “This is a terrific set of results. We have succeeded in refocusing the company’s core.”
BBR recently opened a big new wine shop alongside its historic London offices and events space.