Makro Cash & Carry has moved further into the red as its pre-tax losses widened from £3.5m to £19.4m in the year to 31 December.
The wholesaling giant's turnover also fell below the £1bn barrier with sales down 10.9% to £924m during the period, according to accounts filed at Companies House this week. Without revealing figures, Makro said food sales had fallen 9.7% and non-food sales had fallen 13.3% during the year.
The total number of customers also fell 12.4% compared with the year before, while trade creditors increased from £201.7m to £219.4m in the period.
Makro boss Hannes Floto said the results reflected a year of significant investment and the company was already seeing double-digit sales growth in its core customer groups.
During 2007, Makro revamped its Glasgow and Birmingham depots as part of a multimillion-pound refurbishment programme.
The wholesaling giant's turnover also fell below the £1bn barrier with sales down 10.9% to £924m during the period, according to accounts filed at Companies House this week. Without revealing figures, Makro said food sales had fallen 9.7% and non-food sales had fallen 13.3% during the year.
The total number of customers also fell 12.4% compared with the year before, while trade creditors increased from £201.7m to £219.4m in the period.
Makro boss Hannes Floto said the results reflected a year of significant investment and the company was already seeing double-digit sales growth in its core customer groups.
During 2007, Makro revamped its Glasgow and Birmingham depots as part of a multimillion-pound refurbishment programme.
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