Off-licence franchise group Conviviality Retail has seen a 46.7% increase in pre-tax profit, boosted by a strong Christmas with growth in the two weeks to January 4th 2.6% above last year.

Commenting on the results, Diana Hunter, CEO of Conviviality, said: "I am pleased with our first half year results which are in line with our expectations in a highly competitive market. Despite closures of underperforming stores in the period and the integration of the Rhythm and Booze units, sales have been maintained and store numbers have started to grow as we open higher quality outlets. This has led to increased profits for both the Company and its Franchisees. We now have a solid platform from which to accelerate Franchisee growth, our pilot with Scotmid demonstrates the potential for Bargain Booze to expand throughout the UK, and with our strong balance sheet we have the ability to exploit growth opportunities as they arise. I am confident in the progress we have made and I would like to thank our Franchisees, Employees and Suppliers for their commitment and the important part they all play in achieving these results."