In its Annual Report, Broadland Wineries has reported an increase in revenue of 11.5% during year ended March 2019 bringing turnover to £70.6m, while pre-tax profits rose to £2m and the asset base to £9.1m.
Significant growth for its key brands has been recorded over the last year – Three Mills Fruit Fusion and MINIVINO single serve saw an increase in sales of 43% and 6000% respectively, making them both the fastest growing brands in their category. The Christmas Advent Calendar (a box of 24 small bottles of wine) and Proudly Vegan, the UK’s first 100% vegan wine, have also performed well. This strong performance across the board has enabled the company to significantly broaden its customer base, particularly through the multiple grocers.
Broadland is also in a good position to take advantage of the recent surge in demand for fruit wine flavoured products and the No Low alcohol movement – the company has recently launched the Three Mills Botanicals range, now available in ASDA, and the Three Mills 0.05% alcohol free wines. MINIVINO Frizzante Rosé is also now available in a can. All these new products take advantage of Broadland’s ability to provide drinks in a variety of formats – 75 cl bottle, bibs, cans, single serve cups and pouches.
Turnover outside the UK reached £4.6m in 2018, a growth of 43.9% over the previous year. Particularly strong growth has been achieved in the US - the Broadland Advent Calendar sold out within days of launch, and Waipapa Bay, Broadland’s New Zealand brand, has gained significant retail listings. Trends are translating both ways, putting Broadland, as innovators, in a perfect position – for example cans and bag-in-box are more accepted in the US, whereas the UK leads on low and no alcohol and fruit fusion.
In the last year, the company has also introduced a new sister company, the Live Kindly Drinks Company, which is focused on social and environmental benefits of non-wine drinks. New products will come on stream within the coming months.
Mark Lansley, chief executive Broadland Wineries, commented “Our team has made enormous strides forward over the last year. The strong performance of our existing brands, the introduction of some exciting category game-changing brands and our sales growth in the USA have combined to allow us to deliver improved financial results. In a tough market, with significant challenges ahead, we believe we are making decent progress.”