Vaping growth helps keep Conviviality on track

Crewe-based Conviviality, owner of Bargain Booze and Wine Rack, is drinking to increased half-year revenue as growth in vaping mitigates a continuing fall in tobacco sales.

The company said that the decline in the tobacco market is being partially offset by the increase in the vaping assortment, with 403 franchise stores now retailing vape products.

In the 26 weeks to October 29 turnover was 9.2% ahead of last year at £836m (H1 FY2017: £766m) and 7.9% above the corresponding prior period.

Net debt at the half year was £134m compared to £139m last year.

Chief executive Diana Hunter said: “We are pleased to have delivered strong revenue growth during the period.

“This performance is a direct result of the support and engagement of our valued customers and franchisees across our entire business, our suppliers and global producers and the talented teams who work closely with them.

“During this period the company has undergone significant change as we continue to implement systems that will ultimately serve to future proof our business and enable us to continue to deliver the outstanding service that our customers and franchisees expect from us.”