Costcutter has posted a 4% hike in half-year sales, reinforced by “buoyant” retailer recruitment.

The symbol group added 112 new accounts between January and July and has a further 41 pending accounts expected to begin trading imminently.

“Despite continuing to operate in a tough economy, Costcutter has continued its year-on-year growth,” said chief executive Nick Ivel.

“These latest performance figures underline the excellent work being done by our retailers and everyone within the business.”

He added: “Retailer recruitment is buoyant. We are seeing more and more independent retailers joining a symbol group for the first time and our recruitment of retailers from our rivals is also increasing.”