Skip navigation

Gloucestershire Business News

Convenience store group sees sales grow

Convenience store retailer, McColl's has reported a 7.6 per cent rise in revenue in the 26 weeks up to the end of May.

Revenue was £504.8 million compared to £469.2 million in 2016.

The group said it had benefited from the successful integration of 298 stores acquired from the Co-op.

Profit before tax was £4.5 million (2016: £8.2 million) impacted by £2.3 million exceptional costs relating to the acquisition and £1.3 million pre-opening costs.

Jonathan Miller, McColl's chief executive, said: "I am encouraged by the performance we have delivered over the first half of the year as our business has continued to gain momentum.

"We have traded well in a challenging environment and also benefited from the recent hot weather, which has helped to drive sales in key growth categories including grocery and alcohol.

"We are delighted to have completed the integration of the acquired stores, on time and on budget. We have welcomed over 3,500 new colleagues who have done a great job in supporting customers through the transition, and early trading is in line with our expectations.

"With all 298 stores now on board, they are expected to make a material contribution to sales and profit in the second half of the year and beyond.

"As the wider convenience and wholesale sector evolves and continues to grow, McColl's is in a strong position to benefit. We remain confident that our standing as a leading neighbourhood retailer will allow us to continue to achieve further progress against our strategy and deliver sustainable returns for shareholders."

Related Articles

EXCLUSIVE: Gigantic business park green lit next to M5 J12 Image

EXCLUSIVE: Gigantic business park green lit next to M5 J12

A developer has been given the nod to build four logistics warehouses next to the county's incinerator

All eyes on Gloucester as Channel 4 News hosts key debate Image

All eyes on Gloucester as Channel 4 News hosts key debate

Bellwether city was national focus for seismic election year.

EXCLUSIVE: Gloucester Quays bosses respond to sale rumours Image

EXCLUSIVE: Gloucester Quays bosses respond to sale rumours

Peel Retail & Leisure has commented on reports it was preparing to sell the asset for £85m

Woman arrested following suspected stabbing in Gloucester Image

Woman arrested following suspected stabbing in Gloucester

A man was taken to hospital with serious injuries

Copyright 2024 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.