Tesco’s operating costs in the Irish Republic are on average 20% higher than in the UK, according to the chain’s Irish chief executive, Gordon Fryett.
This, he said, explained why Tesco’s prices for some goods “tend to be higher” in the Republic than in Northern Ireland or Britain. But he dismissed as “absolutely not true” a media report that the company’s Irish profit margins were 11% higher - “the fact is, they are lower than in the UK.”
Mr Fryett was testifying in Dublin this week to a parliamentary committee that is investigating why Irish grocery prices are higher than in the rest of Europe.
More in The Grocer on Saturday.
This, he said, explained why Tesco’s prices for some goods “tend to be higher” in the Republic than in Northern Ireland or Britain. But he dismissed as “absolutely not true” a media report that the company’s Irish profit margins were 11% higher - “the fact is, they are lower than in the UK.”
Mr Fryett was testifying in Dublin this week to a parliamentary committee that is investigating why Irish grocery prices are higher than in the rest of Europe.
More in The Grocer on Saturday.
No comments yet