Ireland's Musgrave Group has exceeded €5 billion in annual turnover, with profit after tax amounting to around €104 million in its financial year 2023, according to media reports.
Musgrave Group, which operates the SuperValu and Centra franchises, reported a 6% year-on-year increase in revenue, while pre-tax profit amounted to €128 million – up from €116 million in full year 2022.
More than 80% of the company's sales came from the Republic of Ireland, while Northern Ireland contributed €600 million and Spain €300 million.
'Solid' Performance
Describing the results as "solid", CEO of Musgrave Group, Noel Keeley, added that the company continued to invest in its retail business to ensure that its key brands, including SuperValu and Centra provided strong customer value.
Sales at SuperValu amounted to €3.5 billion, while Centra and Daybreak generated €2.1 billion and €300 million, respectively.
Elsewhere, sales at Spanish chain Dialprix amounted to €200 million and Mace in Northern Ireland generated €100 million.
Santiago Páramo Hernández, retail and expansion director of Musgrave Group’s Spanish operation told local media earlier in the year that the division expects a 6% increase in sales in 2024.
In an interview with trade publication InfoRETAIL, Páramo Hernández said that Musgrave España is expecting to record €280 million in sales this year, as well as opening five new Dialprix supermarkets and renovating eight existing outlets.
Musgrave Group extended its partnership with Ballymaguire Foods, a Lusk-based ready meal provider, with a new five-year deal worth €170-million.
The retail group seeks to meet the demand for healthy, pre-prepared meal options through this partnership.
The deal will see Ballymaguire Foods supply prepared meals and side dishes to SuperValu, Centra and Daybreak outlets.
