Wine and spirits merchant Berry Bros & Rudd has announced its FY23 results, citing an increase in sales from 2022.
For the 12 months ending March 31, 2023, Berry Bros saw an 11.1% increase in sales on the previous year.
It reported £20.7 million in earnings before interest, taxes, depreciation, and amortisation (EBITDA). While this figure was down 5.1% from FY22, the merchant attributed this to the opening of a new wine storage facility in Andover, which is thought to be the largest of its kind in Europe.
Elsewhere, US distributor Hoatling and spirits producer No.3 Gin – Berry Bros’ joint business operations – saw double digit growth in FY23. Last month also saw Berry Bros complete its joint acquisition of Hambledon Vineyard with Symington Family Estates.
Speaking of the sales growth, Emma Fox, Berry Bros CEO, said: “This strong set of results is a testament to the hard work of all our colleagues, our producers and partners. This has enabled us to continue to grow the business in a way that will be sustainable for generations to come.
“These last few years of sustained growth mean that we are well placed to invest in our continued digital transformation, international expansion, growing our premium brands and acquisition opportunities.”