Bibendum hails 25% profit surge
19th June, 2012
by
Gabriel Stone
Bibendum Wine has announced a “pleasing” pre-tax profit increase of 25% for the financial year to the end of March 2012, with turnover increasing to £185 million.
Michael Saunders, managing director of Bibendum Wine
Pointing to “the well-documented economic uncertainties”, Bibendum’s managing director Michael Saunders declared himself “delighted that we have not only grown sales, but also ensured we are more profitable.”
Explaining how the UK wholesaler achieved this step up in sales, Saunders noted: “We have achieved this result by focusing on the needs of our customers, streamlining internal processes, and making sure we operate as efficiently as possible.
We have also continued to strongly invest in the many areas of our business that offer potential for future growth – and we see many exciting opportunities ahead of us.”
Next year’s results from the company are expected to see a positive boost from its role as official wine and Champagne supplier to the London 2012 Olympics.