Off-piste wines toasts strong year

Wine distributor Off-Piste Wines has reported a strong year despite the challenging climate, with pre-tax profits up by around 56% to £2.1m.

OFF-PISTE-LOGO1Profit after tax rose to £1.67m in the year ending 31 January 2015, up from £1.04m last year according to accounts filed at Companies House this week.

Although the overall turnover fell 1.6% to £21.9m in the 12 months, down from £22.3m the previous year, the company said was the result of an increase in the wines sold on commission, instead of the purchase and sale model that it usually employs. In its annual report, the directors said the increase in pre-tax profit was a better judge of the businesses growth, and reflected its investments in both its personnel and the develop of wine brands that the company owned.

However it said the climate continued to be challenging across the drinks industry, and for its grocery customers. Foreign exchange also showed a considerable increase over the year.

Off-piste wines imports and distributes wine into the UK multiple retail, wholesale, cash-and-carry and on-trade. It supplies own-label wines in the Sainsbury’s Taste the Difference and Winemaker Selection ranges, Tesco Finest, Morrison Signature wines and Asda, in addition to its own ranges and imported wines.

In May the company launched its Most Wanted range, a range of mid-priced varietal-led wines targeting millenial consumers. It was developed by Rachel Archer, the brains behind Copestick Murray’s ‘I Heart Wine’ range, who joined the Off-Piste team in 2014.

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