The CTN and convenience chain opened a trial store under the 'Read Eat Drink' fascia, a year ago featuring fresh coffee, pastries and an extended alcohol section. "A second Red has recently been completed following an extremely successful pilot in Parkhead, Sheffield," said finance director Steve Carroll. "The concept will be rolled out in 2010."
Accounts filed at Companies House this week revealed Newsplus has moved back into profit. It recorded pre-tax profits of £111,947 for the year to 31 March, against a loss of £149,916 the year before. Sales rose 0.5% to £12.3m.
The company was hit by IT problems last year and was forced to take legal action against its IT supplier. Carroll added that like-for-like sales and margins were up and cost-cutting measures were feeding through.