Stellar year for Berry Bros & Rudd as profits soar

The UK’s oldest wine merchant, Berry Bros & Rudd, hit its highest sales since 2010 last year, posting a net profit of over £1.76m for the year, a strong recovery from last year’s losses.

Net profit within the group rose 210% to £1.76m to the end of March 2019, it said, with turnover up 16.8% to around £188m once en primeur sales had been taken into account, the company said.

Excluding en primeur, there was a rise £6.28m to £184.6, up 3.5% from last year’s £178.4 figure.

Private client sales contributed more than £2million more to sales this year than last, to around £117.5 million, it said, accounting for 62% of total revenue.

Sales at the group’s flagship Pall Mall store were also up by 24%, while events and education grew 4%.

The strong performance was achieved “within the context of a challenging economic and political environment and a competitive markets”, the company statement said, after Berry Bros focussed on redefining its core operations and re-centering its attention on the customer, as well as improving its working capital in the light of Brexit uncertainty.

The wine merchant also saw turnover of £34.3m from its San Francisco based spirit arm, Hoteling & Co, which it said was going “from strength to strength”.

“Having defined Hotaling’s future growth strategy which aims to improve the mix of own brand products in the portfolio and develop into the spirits-based hospitality space, we are excited to see where this business will take us.”

There have been a number of changes at the wine merchant in the last year. In January CEO Dan Jago stepped down from the role after three years, with Lizzy Rudd, who was appointed interim executive chairman later confirmed as the firm’s new boss.

Chief financial officer Chris Robinson, who had worked with Jago at Tesco, also stepped down from the UK fine wine merchant in August.

In July, the merchant announced it would wind up its wholesale business in Hong Kong in order to focus entirely on its private customer business.

Earlier this year Berry Bros and Rudd, the Queen’s wine merchant, is set to extend its reach to the lucrative commuter market as its confirms plans to supply a new concession in Victoria Station, db can reveal.

Leave your reply

Most Recent Stories

London's hottest restaurant openings: October

A Franco-Russian feast, game-changing charcuterie and Chestnut Negronis capture this month’s best London restaurant offerings.

Furious diner left stunned by £37,000 bill at Salt Bae's new London restaurant

A shocked customer bit off more than they could chew at Salt Bae's new London outpost, Nusr-Et, after they were left with an eye-watering £37,000 bill. 

Adam Handling opens Ugly Butterfly bar in Cornwall

Following in the footsteps of his flagship location in London – Eve Bar – Adam Handling has ventured south to Cornwall, serving drinks with a sustainable focus and creating classic cocktails using waste from the restaurant.

Beer prices set to jump by 30p a pint as costs increase

Many pubs may be forced to put up the price of pints by 30p due to rising costs in the hospitality sector.

Bartender quits in epic style after boss told him not to get drunk on his day off

A bartender has taken to social media to share his savage response after his now-former boss messaged him at 2:59am asking him to work the following day.

Most Recent Stories

London's hottest restaurant openings: October

A Franco-Russian feast, game-changing charcuterie and Chestnut Negronis capture this month’s best London restaurant offerings.

Furious diner left stunned by £37,000 bill at Salt Bae's new London restaurant

A shocked customer bit off more than they could chew at Salt Bae's new London outpost, Nusr-Et, after they were left with an eye-watering £37,000 bill. 

Adam Handling opens Ugly Butterfly bar in Cornwall

Following in the footsteps of his flagship location in London – Eve Bar – Adam Handling has ventured south to Cornwall, serving drinks with a sustainable focus and creating classic cocktails using waste from the restaurant.

Beer prices set to jump by 30p a pint as costs increase

Many pubs may be forced to put up the price of pints by 30p due to rising costs in the hospitality sector.

Bartender quits in epic style after boss told him not to get drunk on his day off

A bartender has taken to social media to share his savage response after his now-former boss messaged him at 2:59am asking him to work the following day.