The owner of off-licence chains Bargain Booze and Rhythm and Booze said its pretax profit for the financial year ended
Excluding exceptional costs, profit increased to
However, the company gave a confident outlook for the year ahead and declared a maiden dividend of
"The impact of the change to a public company has been positive, although this created a pipeline lag in our new store openings," the company said in a statement Monday, adding: "It has only been in the last quarter that we have seen the full benefit with our pipeline of new openings increasing.
"As we look ahead to the new financial year, we will continue to build on this strong start to growth and continue to build on consumer enthusiasm for our brands."
Revenue for the year fell by 4.3% to
Retail sales, which represent total sales to consumers, were
Post year end, the group spent
"The year ahead will see us start to reap the benefits of the acquisition of Wine Rack and the Rhythm and Booze stores, improve Wine Rack's on line presence, develop Click and Collect and a Bargain Booze app, trial a new larger format store, and update the fascias across our existing estate through Operation Spring Clean," the company said.
During the year, the group closed 62 stores, most of which occurred in the first half of the year. It also opened fewer new stores than originally planned, closing the year with a total of 595 stores.
"Our average weekly sales per store have increased by
Conviviality shares were 0.4% higher early Monday at
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