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Profits Rise To €1m At Pettitt Supermarket Group Owner

Published on Jan 6 2014 11:30 AM in Retail

Profits Rise To €1m At Pettitt Supermarket Group Owner

Torski Limited, the company that owns the Pettitt Supermarket Group as well as hotel and farming interests, saw its profits (after tax) rise to €1.039 million for the year to end 31 December 2012, according to accounts just filed.

In 2011, the group posted an after tax profit of €46.7k.

Turnover at the group rose slightly, to €108m (up from €107.4m in 2011), as did the company's gross profit (€29.3m, up from €29.2m a year earlier).

The group's supermarket interests account for approximately 82% of the total group turnover, with the supermarket division posting a turnover of €88.8m in 2012.The group's supermarkets are mainly located in the south east, in Wexford, Enniscorthy, Gorey, Arklow and Athy.

Commenting, the group's directors said that the results for the year were "considered satisfactory by the directors in light of the current environment."

However it noted that both the supermarket and hotel industries were subjected to general economic conditions, including "more specifically the competitive threat from other supermarkets/hotels. There has been an unforeseen and fundamentally adverse change in the entire global financial system and consequently, the economic and financial environment in which the group operates."

© 2013 - Checkout Magazine by Stephen Wynne-Jones

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