Bargain Booze boosts profits
CREWE-based retail franchise Bargain Booze Holdings achieved a 322% increase in profits to £4.3m in the year to April 30, 2010, according to newly-filed accounts.
The company’s directors declared themselves “satisfied” with the business’s performance, as the firm also achieved a 4% increase in turnover to £371.2m, despite the tough economic climate.
The business, which has been owned by private equity firm ECI Ventures since 2006 following a £63.5m secondary buyout, saw its net liabilities reduce as a result of the improved performance.
At its year end, the company had net liabilities of just £26,000, compared with £3.6m at the start of the year. Its overall levels of borrowings also reduced to £50.8m, compared with £64m a year earlier.
A spokesman for the firm said: ““We are satisfied with the growth in the company’s profits which has been achieved whilst at the same time we have focused on growing our individual franchisees’ businesses.
“The extent to which we have achieved this reflects the robust nature of our trading model which has continues to be successful even in the most challenging of economic climates.”
Bargain Booze operates around 650 retail franchises under a number of fascias including Bargain Booze, Bargain Booze Extra and the Select Convenience banner.
The latter was only launched in April 2007 and offers a broader range of convenience store products. The company opened its 100th Select Conveience Store at South Ockenden in Essex last month.
