Unusually, I chose a quiet Christmas and except for one day, I intentionally kept myself away from the office until the team returned on the 2 January. Much time was spent reacquainting myself with my bike saddle and hours of stretching afterwards as quality training miles plummet with the Christmas rush.

I am not one for holidays and prefer to work throughout the year which makes it difficult to detach oneself from the emotion and physicality of running your own company, which is exactly how I like to operate; hands on, with emotion but being careful not to lose sight of the bigger, commercial picture.  Many spiritual teachings and traditions teach the benefits of living with non-attachment. The belief of a Buddhist is to live with detachment, a sign of spiritual maturity. It is believed that as attachment grows, so does the fear of losing the very person or object we wish for. The balance, as I understand it, is not to abandon relationships, dreams and aspirations. Instead, to allow life to take its natural course and be accepting of difficulties, in turn losing the fear of loss itself.

Despite this only being our second, full company report, I found myself looking back at my company’s journey so far and wondering what my and my team’s future may hold. This has been a cathartic, thought-provoking and at times, an inspirational exercise. More so than any other time during my long wine career.  

Observant ones will have noticed our new logo. A rebrand was necessary to separate the link to Z&B Vintners who were effectively, the controlling company behind The Vinorium. I founded Z&B in 2005 as a Bordeaux specialist but and over the course of the past four years, The Vinorium has taken centre stage. Today, it is our primary focus and certainly has the reputation to stand alone, which it now proudly does. Z&B Vintners has ceased trading with all legal titles passing to The Vinorium Limited and to answer an immediate question - yes, we will be offering Bordeaux En-Primeur wines as the allocations amassed over the years with Z&B have passed to The Vinorium. Your 2016 & 2017 Bordeaux En-Primeur purchases will be delivered through the normal channels.

In a snapshot, and as reported last year, our financial year ending 2017 was successful with gross turnover increasing by £2.783 million compared to our 2016 reported figures with operating profits of £1,433,736.

Our profit position after tax stood at £1,145,969. Online orders saw a substantial 68% increase compared to 2016. Our stock position increased significantly to a closing balance of £1,549,500 (our cost value not sales value). Borrowings were zero and debt or exposure to bad debt was zero.  All-in-all, 2017 was a tremendous year and an exceptional achievement from a small team of six.

2017 was going to be a difficult act to follow. More importantly it was essential we were able to show sustainability in our business concept which baulks at the idea of our industry norm. 2018 has been another record-breaking year and my personal high has been the evolution of The Vinorium, which is simply down to my amazing team. They’re a super-talented, hardworking bunch who never shy away from a challenge and certainly the best team I have had the pleasure to work with. Of course, we are immensely proud of our Decanter & IWC Australian Wine Merchant of the Year awards, which is recognition of our hard work and innovation over the year(s). It has been an honour to work exclusively with some of Australia’s best winemakers, which again highlights The Vinorium is the UK’s number one home for their precious wines.

Full management accounts have been prepared for our financial year ended 31 December 2018. Our turnover has increased to £4,214 million with our gross operating profit of £1,535 million. Pleasingly, and despite the large corporation tax bill due, our net operating profit for the year end stands at £1,062 million which we are delighted with. Our closing stock position (cost not sales value) stands at £1,841 million. Our website is an integral source of communication and revenue, which saw an increase of 51.5% (online orders) with August being the record-breaking month (a 157% increase compared to August 2017 & 100 lines / wines selling out). Our volume of invoices raised increased by 49.5%.

As with our 2017 accounts, I am delighted to run our business without borrowings, an overdraft facility, zero debt or exposure to bad debt. Furthermore, and something we are all incredibly proud of, is to achieve such consistently strong figures with a team of six (including me).

The following figures & graphs represent our financial year ended, 31 December 2018. Full accounts will be filed on Companies House shortly.

As a new year begins and our business continues to grow, so The Vinorium team begins to grow with it. 2018 was an incredible year but we enter 2019 with bigger and better plans which need a few more hands. Whilst we welcome Peter, Shontelle and Gayle, we wish Jody much love as she leaves for her first child…

Magda has done an incredible job running and growing the entire private client sector of The Vinorium, which is no easy task as our customers are scattered globally. This year I felt it was time for Magda to share her ‘Vinorium’ wisdom and experience and expand the private client team with the addition of Peter.

“With five years’ experience in wine retail and four years before that building and looking after the wine list of a restaurant, it was time for me to step up, take on a new challenge and to utilise the wealth of wine knowledge and experience I have gained within wine retail so far. I discovered The Vinorium about a year ago and wishing to move forward in my career felt that I that I had to get in touch. As a company their forward-thinking approach to the wine industry, drive to continually improve, transparency and environmental ethics impressed me and I felt that if I was to continue moving forward in the wine industry, this had to be the company to be part of. Coming from more of an old-world wine background but knowing that many of the exciting developments and innovations in wine are happening in the new world, it is a pleasure to now be working for an Australian specialist. The team gave myself and the other new members a warm welcome before Christmas with a glass of House of Arras Brut Elite and I’ve settled in well so far enjoying the positive energy and daily atmosphere in the office. Opening a bottle of wine to share with our team lunches and discussing the wines poured has been an impressive touch and a rare experience that ensures that every member of the team has an intimate knowledge of the wines and is a crucial, daily part of team bonding. The wines I have tasted so far have been extraordinary and have opened my eyes to the quality of Australian wines, my favourite to date being the Henry’s Drive Cabernet Sauvignon 2002”.

Shontelle joins the Client Service and Logistics team and her years of extensive experience in various roles that include administrative and sales duties, as well as the irreplaceable experiences gained through her many travels of which she seems to have an unquenchable thirst for. Shontelle’s passion for wine is beginning to grow on a daily basis, it is impossible not to working here, and will continue grow the longer she is part the team.

Always impressive is an ability to bake but Shontelle is yet to deliver on her promise of bringing in some of her famous tray bakes so until she does, we refuse to believe her!

“I very much ‘stumbled’ across The Vinorium in my search for a new role, an industry quite different to any I’ve worked in previously.  I found the idea of working within the Wine Industry quite an exciting one!  Right from the start, Stu and the team made myself and the other new members feel very much at home.  We shared together a delicious glass of House of Arras and The Vinorium plans for 2019, which I have to say, are absolutely fantastic! It’s certainly made me extremely happy to be a part of the team here and I look forward to the year ahead.  The Vinorium have been crystal clear in every aspect of what they do, work very hard to achieve their goals and always remain positive and enthusiastic for the future – which creates an excellent office environment to work in.  I am thoroughly enjoying the varied, busy role and learning more each day about the world of wine! I particularly enjoy the daily wine tasting; sharing a bottle of Egly Ouriet VP Extra Grand Cru for Magda’s birthday has been a particular highlight and I would say that this has been my favourite wine so far”

Gayle, whose predominant background has been in finance and in particular, data analytics also joins the Client Services and Logistics team. Along with Shontelle, they will both be taking up the mantle whilst Jody is away on maternity leave and Natalie moves into our finance team. Already possessing a growing passion for wine and independently putting herself through the WSET levels two and three, Gayle had a bourgeoning desire to be part of the wine trade and was delighted to find a role that combines both her professional experience and personal passion.

“I have always had an interest in wine, visiting vineyards and tastings with friends and family on trips away.  Two holidays to Australia remain my most memorable, including trips to Hunter Valley and Tasmania. I was hoping to incorporate this interest into a career, having gained some initial qualifications.  It was an opportunity not to be missed to apply to The Vinorium, a Decanter Award winning Australian Specialist.  I have been welcomed into this friendly and knowledgeable team and am looking forward to the experiences ahead of me.  In particular, learning about and tasting the impressive range of wines.”