Musgrave has announced its 2015 financial year results, revealing group sales of €4.4 billion, as well as profit before tax of €67.5 million, compared to a loss of €9.6 million in 2014.
The wholesale and grocery firm also reported net cash of €23.4 million at year end, turnover of €3.7 billion, and profit before tax of €52.8 million.
Some of 2015’s highlights for Musgrave included SuperValu cementing its position as Ireland’s leading grocery retailer with sales of €2.6 billion, while Centra recorded sales of €1.5 billion.
Musgrave also notes that during 2015, it continued to develop its MarketPlace brand, which was strengthened by the acquisition of Allied Foods and C.J. O’Loughlin Quality Foods.
In Northern Ireland, by bringing together its retail and wholesale operations, it says its brands performed well, with its concept stores showing strong progress. Similarly, in Spain, the work done to strengthen Musgrave’s Dialsur and Dialprix banners has helped to deliver a better performance in a recovering local economy.
Chris Martin, Musgrave Chief Executive commented on 2015’s results, "During 2015, we invested in our SuperValu, Centra and MarketPlace brands, which now lead their respective markets and support over 22,000 Irish businesses, generating €7 billion of economic activity annually."
He added that, "This year, as we celebrate 140 years since Thomas and Stuart Musgrave established the business in 1876, we are at an exciting juncture. We are successfully delivering a transformation programme and we are now focused on a growth agenda for the business."
© 2016 - Checkout Magazine by Jenny Whelan.