Henderson Group has reported a 3.6% increase in turnover and “record profits” up 17.5% for the year ending 31 December 2013.
Profits surged to £18.4m on sales of £642.8m at the Northern Irish group, which supplies Spar stores in the region and owns 80 Spar and Eurospar stores. It also operates a foodservice and property division.
Group finance director Ron Whitten said the company had seen a “record trading performance in a busy marketplace”.
He said the company-owned store division had performed “particularly well”, doubling profits from 2012. Sales of fresh food had also surged 11%. However, wholesale profits had been flat as a “direct result” of investments in retail price to support its independent retail partners, Whitten said.
“We are committed to improving our value proposition to both our wholesale and retail customers and have maintained our competitive advantage by ensuring our collective buying power provides them with a great offer,” he said.
“We have also developed our range of products and services while continuing to identify operational efficiencies including ongoing investment in technology, particularly in our warehouse management systems, and in our fleet management.”
The company added it had made an investment of £23.1m in the group last year, which included acquiring the freehold of seven stores and purchasing additional warehouse space adjacent to its Mallusk base to support continued growth, “particularly of the fresh foods division”.
A further £13.4m would be invested in refurbishment, while there would be further acquisitions this year, the company added.
In March, Henderson Group announced it had appointed former Appleby Westward MD Mike McCammond as MD. He will join in September.
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