Full-year profit at Nearby Stores jumped 35% last year, according to latest accounts filed at Companies House.

The Spar retailer recorded a pre-tax profit of £297,053 for the year to 31 May 2007, up from £219,126 the year before on sales up 25% to £26.9m.

The figures were boosted by acquisitions, Nearby Stores said. It took control of five stores during the period, including two new sites and three existing stores, taking its total number of c-stores to 22. Since the year-end, it had completed seven further store openings with three more in the pipeline.

The accounts revealed the estate was valued at £6.9m in May 2006, with a further five stores valued at £865,000 in May 2007.

Nearby Stores is ranked 36th on The Grocer's top 50 poll. In 2006 it reported turnover of £21.5m and a pre-tax profit of £219,000, giving it a profit margin of 1%.

Topics