Budgens and Londis brand owner Musgrave Group has posted a 3% increase in full-year profits to €72m, on sales up 11% to €4.9bn.
Total retail sales – the combined turnover of Musgrave’s retail brands including SuperValu, Centra and Superquinn – rose 9% to €7bn.
CEO Chris Martin put the performance down to the group’s new ‘Winning in the New World’ strategy, which has seen Musgrave sharpen its offer, leverage scale and improve operations.
“This is enabling us to focus on our brands and maintain our status as the leading partner to entrepreneurial retailers,” he added.
“In 2012 we reduced our costs through simplification and re-organisation. As a result we have been able to deliver further value to the consumer and support our retail partners.”
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