Musgrave’s cool €67m profit for 2015

Musgrave Group CEO Chris Martin is set to step down from the role after 14 years
Musgrave Group CEO Chris Martin is set to step down from the role after 14 years

Musgrave CEO Chris Martin has hailed the company's good fortunes after a healthy profit was posted for 2015's trading year

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4 May 2016 | 0

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Musgrave’s financial results for 2015 have been revealed, and it was all smiles in the boardroom as the retail group posted profits of €67.5m. Musgrave, which is comprised of Centra, SuperValu, Mace and Daybreak stores along with Musgrave Marketplace, posted this profit following sales of €4.4bn, compared to a loss of €9.6m in 2014.

“2015 marked a year in which we brough the business back to profitability and positioned it on a path to growth,” said Musgrave’s chief exec Chris Martin. “In recent years, against a backdrop of challenging trading conditions, we have invested in our brands and consolidated our business as Ireland’s no.1 food retailer and wholesaler.”

Martin also pointed out that Musgrave’s brands support more than 22,000 Irish businesses and generate €7bn of economic activity annually, while also recently successfully completing an exit from Britain.

“This year,” he said, “as wel celebrated 140 years since Thomas and Stuart Musgrave first established the business in 1876, we are at an exciting juncture. We are successfully delivering a transformation programme, and we are focused on an agenda of growth for the business.”

 

 

 

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