Budgens retailer and forecourt operator Tout has fallen into the red.
The south west of England-based retailer reported a loss of £155,770 in the year to 31 March against profits of £58,801 the year before, accounts posted at Companies House revealed.
However, gross profits grew from £3m the year before to £3.4m, with gross profit margins up from 14.6% a year ago to 15.2%. Turnover also increased 8% from £21m to £22.8m.
Competition was fierce in the sector, directors Philip and Lesley Tout said. "The company operates within a market that is highly competitive and profitability is determined both by fuel costs and the prices charged by the major suppliers," they added.
Tout is currently ranked 40th in The Grocer's Top 50 independent grocery retailers, operating four Budgens. The retailer has won awards for its flagship store in Nailsea, Bristol.
The south west of England-based retailer reported a loss of £155,770 in the year to 31 March against profits of £58,801 the year before, accounts posted at Companies House revealed.
However, gross profits grew from £3m the year before to £3.4m, with gross profit margins up from 14.6% a year ago to 15.2%. Turnover also increased 8% from £21m to £22.8m.
Competition was fierce in the sector, directors Philip and Lesley Tout said. "The company operates within a market that is highly competitive and profitability is determined both by fuel costs and the prices charged by the major suppliers," they added.
Tout is currently ranked 40th in The Grocer's Top 50 independent grocery retailers, operating four Budgens. The retailer has won awards for its flagship store in Nailsea, Bristol.
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