The 海角视频's largest independent drinks wholesaler surged back into the black in its latest financial year after recovering from a 83% drop in turnover during the first six months.
Licensed Wholesale Company (LWC), which is headquartered in Manchester, has posted pre-tax profits of £12.3m for the 12 months to September 30, 2021, up from losses of £70,305 in the prior year.
The business has also reported a turnover of £248.9m, a rise from £243.6m.
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The group achieved pre-tax profits of £15m and a turnover of £346.5m in the last financial year not affected by the pandemic, the 12 months to September 2019.
LWC was started over 40 years ago by Robin Gray and Ebrahim Mukadam, who still run the business.
The company was originally based in an old mill in Greater Manchester but it now operates from a support centre in the city centre, a new 173,000 sq ft base in Chadderton and has 14 depots across the country.
Its customers include the likes of Manchester United, Manchester City, Molson Coors and Heineken as well as a range of hotels, restaurants and festivals.
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The results come after the group completed the purchase of a 120,000 sq ft warehouse in Washington, Tyne & Wear, and a 52,000 sq ft site in Stockton-on-Tees.
A statement signed off by the board said: "For the second consecutive year the group has faced the challenges of the impact of the Covid-19 coronavirus pandemic.
"As has been well documented, the impact of lockdowns and trade restrictions on our customer base and suppliers has led to another disrupted year.
"The directors continued to take swift and decisive action whenever the restrictions impacted on our business, immediately restricting normal operations whilst continuing to support our customers and suppliers where possible.
"We are grateful for the support of our staff, partners (customers) and suppliers during this challenging period where regulations and the market were changing on a regular basis.
"Since the ending of national lockdowns in April 2021, the business has recovered strongly and we have been delighted with the performance of the business, allowing return to a robust trading and margin position towards the end of the year.
"Whilst turnover in the first half of the 2020/21 financial year was down 83%, we were able to minimise the overall cost to our business to facilitate a strong recovery in the second half."