Off-Piste Wines sees turnover rise more than 50% in 2021
Turnover at Off-Piste Wines rose more than 50% in the 14 months to March 2021, according to accounts filed at Companies House.
Sales rose to £58.4 million for 2021, a rise of 53.9% over last year’s £37.3 million, although obviously this reflects the slightly extended 14 month period, compared to the previous year’s 12 months to 31 January.
Profit for the period was up to £3.6million versus £2.3million for the 12 months to January 2020.
Part of the improvement was down to a favourable comparison and better global harvests in 2020, the company said.
“The previous financial year to 31 January 2020 was impacted and suppressed by the worst global harvest in a generation and, for the first time in living memory, demand was greater than supply, which made it hard to find available wine to grow the business,” the company statement said.
It also cited Brexit and Covid’s impact, which it said had significantly disrupted shipping “which our business is so reliant on”.
“The unprecedented situation in the UK caused by Covid-19, coupled with the UK and global off-trade market increasing by c20%, meant that demand continued to outstrip supply for the current period. This therefore impacted the potential of the company in the year,” the company directors said.