Sales up 25% at Farr Vintners in 2017

UK fine wine merchant Farr Vintners is the latest to release positive results for 2017, with sales up just over 25% to £96 million.

Farr Vintners new Battersea offices

The merchant reported physical sales of £77m and £19m worth of en primeur sales, which it said was the best since campaign since 2010.

As also noted by BI, the weaker pound led to an increase in sales to customers outside of the UK, especially in Asia.

Sales were made to customers in 70 countries and by value were broken down into 80% for the UK and Asia, 9% in the US, 8% in Europe and3% to the rest of the world.

Following the current composition of the market according to Liv-ex, by region Bordeaux accounted for 65% of sales, Burgundy 15%, Champagne 5%, Italy and the Rhône 4% apiece, the US 2% and various others making up 1% to 1.5%.

Again, as reported by BI, Farr Vintners reported that the year saw a noticeable increase, “in purchases of wine back from our own customers’ reserves.”

Chairman Stephen Browett said in a statement: “Despite pressure from smaller operators on margins, we are pleased to report that the company’s modest profit margin remained unchanged from 2016 to 2017 and allowed us to continue to offer a high level of service to our customers.

“All in all, 2017 has been an excellent year for Farr Vintners.”