Chief executive Colin Bird said: “Our retail division has had another exceptional year with food reporting a very strong performance with like-for-like sales ahead of expectation and gross profit increased.
“BWS, tobacco and dairy have all performed well for us, with good reductions in shrinkage and waste.”
In terms of growth in store numbers, Bird said Scotmid remained actively acquisitive following its purchase of eight former Alldays stores in Edinburgh from Co-operative Group in February. He confirmed that the programme to rebadge the outlets was on track for completion by July.
With £20m invested in developing the whole business this year, he said the roll out of sales-based ordering across the food estate would finish this year. The last product areas to come on line would be dairy and fresh foods.
Food sales were at £143m for the year to January 31. Annual operating surplus for the overall business rose 60% from £5.1m to £8.1m on turnover up 32%, from £223m to £295m.