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Retail & Consumer

Wine supplier to major supermarkets including Tesco, Sainsbury's and Waitrose returns to profit

The company entered the red during its previous financial year because of the Covid-19 pandemic

Boutinot Wines supplies major supermarkets in the º£½ÇÊÓÆµ and internationally(Image: Lincolnshire Echo)

A Cheadle-based wine importer and supplier to the likes of Tesco, Sainsbury's and Waitrose returned to making a profit during its most recent financial year.

In Vino, which owns Boutinot Wines, has posted a pre-tax profit of £6.8m for the 12 months to August 31, 2021, after making a loss of £1.7m during the prior year.

Its turnover also increased from £128.1m to £137.3m over the same period.

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A statement signed off by the board said: "The business performed exceptionally well during the year to 31 August 2021 with a strong return to profit whilst continuing to embrace the challenges Covid put before it.

"The prior year's results were affected by lockdowns on the restaurant sector along with an exceptional level of bad debt charge.

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"Despite the continuing effects of a second year of Covid impacting trading and the introduction of Brexit trading measures, the business performed extremely well, managing the roadmap out of Covid lockdowns to deliver a sold result in 2021 in terms of both profit performance and cashflow recovery, which has continued to strengthen into 2022.

"The In Vino group stood up well against the challenges of Covid, helped by its strategy of serving all trade sectors in its º£½ÇÊÓÆµ and international markets and the ongoing actions of the management team.