Latest interim results show BWG turnover increased by 2.8%
Following the publication of the Spar Group's latest interim results, BWG is said to be "cautious but positive and expects to deliver results in line with expectations".
30 May 2018 | 0
The Spar group has issued interim results for the year to the end of March, which show BWG delivered strong results for the six months to the end of March 2018.
In fact, BWG turnover increased by 2.8% in Euro terms which translated into a near 9% increase in Rand terms.
All BWG brands reported positive growth with the XL brand and Londis growing by 6.3% and 6.2% respectively.
What’s more, BWG Wines & Spirits and BWG Foodservice reported double-digit growth in turnover of 11.8% and 18.6% respectively.
Interestingly, March saw a significant increase in turnover linked to the major storm and an early Easter.
Meanwhile, in the UK, Gilletts made a strong contribution, growing by 7.4%.
As previously reported, subsequent to the end of the reporting period, BWG closed the acquisition of 4 Aces Wholesale, a leading independent wholesaler.
In terms of the future outlook, the Spar Group says BWG is cautious but positive and expects to deliver results in line with expectations.