Budgens is in expansive mood, with plans to open 20 new outlets in the coming year, extend its trials of home shopping, and complete its store conversion programme by 2002. Chief executive Martin Hyson, who took over earlier this year when John von Spreckelsen moved to Somerfield, said: "The growth potential of all aspects of home shopping is being rigorously pursued within the framework of a cost the business can afford. "The initial results are very encouraging and plans are now being developed to extend the concept of Budgens Direct into a number of our larger stores." The business is currently operating from three depots and from the Kensington store for deliveries in central London. Mike Taylor has been appointed managing director of Budgens Direct. He has a "strong retail marketing background" in non food and will focus the Direct business on its "key strengths of servicing local communities". Budgens is also hoping to expand its presence through a new symbol group called Budgens Local (see page 14) and by further expanding its partnerships with petrol forecourt operators. The news came as the chain announced a 16% jump in pretax profit to £14.6m in the year to April 30 on turnover up 4.5% at £451m . Like for like sales were up 4.1% during the year, thanks largely to the chain's focus on fresh foods, and in the first eight weeks of the current financial year they are running 4% ahead of last year. Hyson said this "oustanding sales performance" had also allowed Budgens to improve its trading terms with suppliers. "Our teams of negotiators, supplemented by our involvement with the Nisa-Today's Central Buying Consortium, continue to achieve cost savings which are reflected in the competitiveness of our offer." {{NEWS }}

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