Spar retailer Gillett’s has vowed to continue to open new stores despite a drop in full-year profits.

Pre-tax profits fell 15.6% to £1.07m on sales up 3.9% to £61.9m in the year to 2 November 2012.

The Top 50 indie, which acquired a Spar store in Helston, Cornwall, in June and has more than 60 stores, said in its accounts: “The company continues to look for opportunities to add to its existing stores while maintaining and improving its present stores.”