Retail group Musgrave has reported pre-tax profits of €57.6m for last year, a 22% increase on the 2001 figure, as sales also rose 22% to €2.8 billion.
The results include a five-month contribution from UK supermarket group Budgens, which Musgrave acquired last summer. Managing director Seamus Scally said turnover excluding Budgens grew by 8% to €2.45 billion.
But he said there had been a decline in growth rates across the retail sector this year because of tougher economic conditions.
In the Republic of Ireland, SuperValu sales rose by 9% to €1.55 billion, while Centra sales were up 18% to €750m. Turnover in Northern Ireland grew by 20% to €317m, while Musgrave's Spanish division Dialsur recorded 6% higher sales of €159m.
