Mangrove reports record annual results

By Lisa Riley

Published: 28 May, 2019

Mangrove UK has reported a 41.3% leap in turnover to £21.4 million for the year ending 30 April, 2019.

The premium spirits importer and distributor, which manages over 20 global premium drinks brands in the UK, said it had sold 53.5% more nine litre cases than the year before, with ‘duty paid’ sales up 36% and ‘under bond’ sales up 77%.

The latest results build on five years of continuous growth and a record month in October 2018, which saw Mangrove UK deliver a record 22,000 cases to its on- and off-trade customers.

Looking ahead, managing director Nick Gillett said the company’s focus would be on “effectively managing the challenges that come with growing at this rate and on cost effective financing”.

“The highly competitive UK market will continue to be tough but the forthcoming year looks set for more exciting trends and innovations for us, with further NPD in the pipeline."

In addition, Mangrove would continue to “make the right brand additions to ensure we remain relevant”, he added.

Gillett said he was particularly excited about Bourbon “as we see the impact of price repositioning”, adding “we should also reap the rewards of growth in awareness of Pampelle and Select amongst consumers wanting a quality product”.

Having strengthened its sales and account team with five new hires last month, further recruitment is on the cards to “ensure we can satisfy the demands of our brands in a professional manner”.

Founded in 2014, Mangrove’s portfolio spans Whisky, vodka, rum, pisco, Cognac and liqueurs.

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