Sunday 14 November 2021 5:51 pm | Updated: Sunday 14 November 2021 5:53 pm

Berry Bros lifted as Brits develop taste for fine wines during lockdown

Berry Bros & Rudd, the UK’s oldest wine and spirits merchant, has benefitted from Brits developing a taste for fine wines during lockdown.

Established in the 17th century Berry Bros’ flagship store has been located on St James’s Street since 1689 and has supplied the royal family since the reign of King George III.

Its not just royals who are thirsting after the company’s products and services according to the company’s latest set of financials, first reported in the FT. Over the pandemic customers for Berry Bros’ wine cellar business, which stores around £1bn worth of wine for private clients, have increased by 37 per cent while subscribers for the company’s preview service, which lets customers taste the most recent vintage before its bottled, are up 43 per cent compared to 2019.

Emma Fox, the chief executive of Berry Bros, dubbed sales in the current financial year were “buoyant,” noting that they are 10 per cent ahead of where they were at the same point last year. She told the FT “We are continuing to go from strength to strength.”

The financials, due to be published this week at Companies House, revealed the company generated £23.5m in cash from its operations in the year to the end of March 2021, up from £284,000 of cash outflow the previous year. Turnover increased to £224.3m, climbing 1.7 per cent, but the company still reported a pre-tax loss of £8m.

Despite the positive results Fox warned that the company still faces hurdles in the months ahead as a result of Brexit. Labelling imported wine, which was not previously required for EU products, could cost around 50p per bottle following changes to regulation expected next summer.