Full-year sales and profits have soared at frozen food discounter Heron Foods.
Pre-tax profits rose 15% to £8.1m, on sales up 11.3% to £164.9m in the year to 31 December 2011, according to accounts filed at Companies House.
Heron, which earlier this month acquired rival Cooltrader, said it had continued to open new stores and drive footfall during the period.
“The company operates in highly competitive markets in which the business environment will always be challenging,” the directors wrote in the accounts. “However, by remaining flexible and responsive to market conditions, we remain optimistic about the future.”
They added that they planned to relocate existing stores to “more favourable locations”, as well as to continue to open new stores.
The Grocer revealed earlier this month that Heron had acquired 54 of Cooltrader’s 58 stores, plus stock, from Iceland Foods for an undisclosed sum. The deal is expected to be completed by the end of the month.