Conviviality trades well in April year, in line with board's views

UK alcohol wholesaler Conviviality traded well in the 52 weeks to 30 April and in line with the board's expectations.

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Total group sales nearly doubling to £1.56bn, from a restated £841m. Net debt at 30 April was £99m, comfortably below Conviviality's net debt target of 2.0-times net debt/EBITDA.

"We have come to the end of an unprecedented year of change and I am pleased to report a strong trading performance for the Group and for each of its business units," said chief executive Diana Hunter.

"It is encouraging to see our customers and suppliers benefiting from the skills and the expertise of the enlarged group, its scale and reach and its positioning as the UK's leading drinks wholesaler and distributor."

The company had made "great progress" on the integration of Matthew Clark and the acquisition and integration of Bibendum PLB Group.

"Our focus will continue to be on improving the business and ensuring that benefits are realised from our greater scale, as we drive efficiencies for the Group and greater service for our customers," said Hunter.

At 14:16 BST, shares in AIM-listed Conviviality were up 1.33% to 322.75p each.