South Africa-based Spar Group has reported a rise in profit of 5.3% for the first half of its financial year, describing the performance of BWG Group in Ireland as ‘ahead of plan’.
Spar Group's headline earnings grew 22.7% to R788.3 million (approximately €44 million), with growth of 13.3% within the local business to R728.3 million, while the BWG Group, of which the group owns 80%, accounted for the remainder of the increase.
It added that its Irish business saw “strong turnover gains in base euro currency terms, further boosted by the acquisition of the Londis retail brand in June 2015”.
“The continued Irish economic recovery provides a solid underpinning for the BWG Group to extend its positive performance for the remainder of the financial year, as Europe heads into the summer holiday season,” the company said.
© 2016 - Checkout Magazine by Jenny Whelan.