Financial highlights
Revenue increased 2.4% to £364.1 million (2014: £355.7 million)
EBITDA (excluding exceptional items and share based payment charges) increased 3.5% to £12.9 million (2014: £12.4 million)
Group profit before tax and exceptional items increased by 4.4% to £9.7 million (2014: £9.3 million)
Like for like sales decreased by 1.7%
Underlying retail sales per store were up by 0.5% year on year
Gross profit margin increased to 10.2% (2014: 9.2%)
Profit after tax (pre exceptional items) increased 8.9% to £7.8m (2014: £7.2m)
Diluted earnings per share (pre exceptional items) down 3.4% to 11.2 pence (2014: 11.6 pence)
Debt free with net cash balance at period end of £1.2 million
Proposed final dividend up 5% to 6.3p (2014: 6.0p) bringing the total for the year to 8.3p per share (2014: 8.0p)
Operational highlights
21 existing Franchisees opened additional stores, 35 new Franchisees joined the Group
Store estate increased stores by 29 (4.9%) to 624
Franchisees' average profitability increased by 0.8%
Improved store standards with Gold standard stores up 291% to 305 (2014: 78)
441 stores benefited from the new updated Bargain Booze fascia
10 Wine Rack stores have been franchised across four franchisees
Improved our wine capability and credibility with wine participation up 7.0%
Acquired 31 Rhythm and Booze stores and 37 GT News stores of which 42 subsequently franchised
Crewe warehouse transformed and transport function brought in house
Successful launch of the mobile App generating over 30,000 downloads
Successful pilot of Click and Collect across 66 stores
Completed board changes
Diana Hunter, Chief Executive Officer of Conviviality, said:
"This is a strong set of results reflecting the hard work of our employees, franchisees and suppliers. Franchisees will remain at the heart of our business, as we continue to work together to blend the entrepreneurial skill of the Franchisee with the branding, ranging and wholesale expertise of Conviviality. Looking forward we will continue to help more of our Franchisees grow their existing business while also working to attract new Franchisees to the Group. The Board looks to the future with confidence."
