Nisa-Today's insists its business won't be affected when supermarket chain Booths leaves the buying group at the beginning of next year.
"Booths' termination of membership will have no material effect on the group's operations as Booths stopped buying from us a long time ago," said Neil Turton, chief executive officer of Nisa-Today's.
"It is a great shame but the decision is as amicable as can be. Our companies have been going in opposite directions for some time - we are focusing on effective central distribution across the country and running a symbol group, whereas Booths is now a regional multiple with its own distribution centre."
Its departure had been mitigated by the fact that in the financial year to date, Nisa-Today's had recruited members with a combined turnover of more than £61.5m, said Turton. It was also undergoing the most extensive recruitment campaign in its history.
Sales grew by 6% in the year to April 2008 and Turton predicted that by next April another £75m would have been added to the current £1.2bn turnover.
Booths is expected to report a 4% increase in sales to £243m for the year to April and a pre-tax profit of close to £9m, up 30% on last year. "Nisa's continued development of central distribution has differentiated it from Booths' plans to develop its unique grocery offering," said Booths chairman Edwin Booth.
"Booths' termination of membership will have no material effect on the group's operations as Booths stopped buying from us a long time ago," said Neil Turton, chief executive officer of Nisa-Today's.
"It is a great shame but the decision is as amicable as can be. Our companies have been going in opposite directions for some time - we are focusing on effective central distribution across the country and running a symbol group, whereas Booths is now a regional multiple with its own distribution centre."
Its departure had been mitigated by the fact that in the financial year to date, Nisa-Today's had recruited members with a combined turnover of more than £61.5m, said Turton. It was also undergoing the most extensive recruitment campaign in its history.
Sales grew by 6% in the year to April 2008 and Turton predicted that by next April another £75m would have been added to the current £1.2bn turnover.
Booths is expected to report a 4% increase in sales to £243m for the year to April and a pre-tax profit of close to £9m, up 30% on last year. "Nisa's continued development of central distribution has differentiated it from Booths' plans to develop its unique grocery offering," said Booths chairman Edwin Booth.
No comments yet