Profits at Bordeaux Index rise 48%

Bordeaux Index saw turnover rise 40.7% during 2021, to £132million, with profits up 48.4% to £14m, according to documents filed at Companies House.

The company saw seen its pre-tax profit rise by 122% in 2021 to £5.9million, up from £2.246m in 2020) it noted.

The directors – which includes Tory grandee Michael Spencer – said this was a  “very good result bearing in mind the lingering effects of Covid-19 on the business, particularly on the company’s on-trade business” in the first half of 2021.

Increased activity in Asia and the US was also “noteworthy”, it said, while the UK also saw “pronounced gains”.

The reporting period (the 12 months to 31 December 2021) also saw an increase in overheads due to a review of the LiveTrade platform, which is in the process of being upgraded.

“The directors consider this project to be a necessary investment to future proof the company and underpin [its] strategic growth ambition,” it said.

It also noted the ongoing impact of Brexit on logistics, which has seen time taken on shipping as well as costs rise “considerably”.

Following the end of the year, a dividend of £1.812 was declared, representing £14.20 per share.