Henderson Retail has enjoyed a 7.6% increase in turnover to £614.9m, for the year ending 31 December 2023.
The Spar retailer, which owns 100 supermarket, convenience, and forecourt stores across Northern Ireland, said its turnover was driven by strong grocery sales, up 13.1%.
This was a result of the cost of living crisis encouraging shoppers to take more frequent store visits for goods “only as required” to manage food waste, it explained.
The accounts added: “Best in class customer service and facilities, strong stock availability throughout and ongoing investment in retail pricing within our company owned store estate has underpinned these results.”
Fuel volumes across its forecourt estate had also increased by 4.6%, but price deflation declined in sterling terms, Henderson Retail added.
The business also saw pre-tax profits soar 52% to £31.7m.
This was driven by “strong sales performance, enhanced gross margin, and good cost control, as the company’s early adoption of labour-saving technologies, such as self-checkouts, automated cash managements systems and electronic shelf labels, mitigated the increased cost pressures from the increasing national living wage.”
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