Budgens operator Kavanagh Retailing reports 144% profit hike

Kavanagh Retailing UK has posted full-year pre-tax profits up 144%.

The Top 50 indie, which operates five Budgens stores in South East England, said profits rose from £112,951 to £275,238 in the year to 31 December 2013, according to accounts filed at Companies House.

Kavanagh reported a 53% fall in profits for 2012 after investing in a new store in Southampton. Director Noel Kavanagh Jr said sales were “in line with the preceding year.”