TURNOVER at a North West Leicestershire based drinks distributor has smashed through the £100 million barrier.
Cellar Trends, one of the fastest-growing companies in the Midlands, has revealed that profits have also soared towards £10 million at the company thanks to its bestseller Jägermeister and Patron Tequila.
David Marriott and Martin Watts established Cellar Trends in 1999 as a small wine and spirits distribution company with seven employees and two brands.
The pair, who have more than 30 years’ experience in the drinks industry, set up the Ashby based business after the Italian company Luxardo Sambuca approached them to sell its drinks to pubs and bars in the UK.
Performance in the year ended 31 May 2012 was ‘positive’ with continued growth in volume, particularly in the spirit sector of the portfolio, in a marketplace which was static, the directors said in the latest set of accounts.
In the period, turnover climbed to £100.2 million, compared with £86.1 million in 2011.
Pre-tax profit is booming once again, rising from £6.2 million to £9.3 million in 2012. It represents a massive jump from a pre-tax profit of just more than £500,000 in 2009 on sales of £58.3 million.
A report into the accounts stated: “With the continued strong consumption momentum across the remaining portfolio, the directors remain positive and optimistic about the full-year prospects.”