SuperValu, the largest retail banner operated by Ireland's Musgrave Group, has posted €2.7 billion worth of sales in full-year 2017 – a new record for the business.
The banner also saw its online sales grow by 23% last year.
Earlier this month, SuperValu returned to the top spot in the Kantar Worldpanel market share data for Ireland, with the business holding 22.3% market share in the 12-week period to 22 April, just ahead of rivals Tesco (22.2%) and Dunnes (21.9%).
Overall, Musgrave Group posted sales of €3.7 billion for the full year, as well as profit before tax of €80 million, which was 9% higher than the previous full-year period.
Net cash was €71 million, and net assets totalled €330 million – an increase of €82 million.
'Strong Performance'
"We have delivered a strong financial performance, reporting a third consecutive year of profit growth with sales also performing well, despite ongoing food deflation," said Chris Martin, Musgrave chief executive (pictured).
"Our brands enabled local community retailers to go head to head with the multiple chains in a highly competitive market. These family businesses are benefitting from their partnership with us, and our financial strength enables us to support them into the future. This financial strength also means we can continue to explore opportunities through acquisitions, exports and by developing new brands," Martin added.
Divisional Performance
In terms of the group's other businesses, the Centra convenience banner, also based in Ireland, recorded sales of €1.58 billion in 2017, while its MarketPlace foodservice operation reported a 'strong' performance.
In Northern Ireland, both its wholesale and convenience operations saw sales and profit growth for the full year, while its Spanish operation, built largely around the Dialprix supermarket and Dialsur wholesale businesses, also made gains.
On the group's prospects for 2018, Martin noted that while there is "Brexit-related uncertainty" in the market, Musgrave is "working to ensure that our business is prepared for this environment, as well as providing support for our independent retail partners".
He said, "Notwithstanding this challenge, we see opportunities in a growing total food market across the island of Ireland. Our focus will be to continue to develop our existing brands, create new brands, and deliver a seamless integration of digital with bricks-and-mortar retail to provide shoppers with the flexibility and personalisation they expect."
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.
