News Column

Profits jump at Conviviality

July 15, 2014

KASMIRA JEFFORD



BARGAIN Booze's owner Conviviality Retail yesterday posted a jump in profits in its first annual results as a listed company, although the closure of 61 loss-making stores hit sales.


Pre-tax profits before exceptional items jumped 31.5 per cent to 9.3m while revenues were down 4.3 per cent to 355.7m after closures wiped 15.7m off sales. The group said store closures will slow to 30 next year while openings will rise to around 60.


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Source: City A.M. (UK)


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