Listen |Musgrave’s Thomas Morrison said the market for evening meals in particular has been performing “very strongly”.
“We are also cognisant that these are challenging times, with increased living costs and rising inflation. We’re continuously adapting to meet our customers’ needs and give them the best possible value,” he added. Musgrave, which is headquartered in Cork and also owns SuperValu and Centra, increased sales by 1 per cent in 2021 to breach the €4.5 billion barrier, its most recent accounts show. The company’s pretax profits also rose by about 12 per cent to more than €110 million in the year.
Of Musgrave’s group turnover, €3.8 billion was generated by its operations in the Republic, where it owns Daybreak, SuperValu and Centra as well as a chain of cash-and-carry outlets and the Donnybrook Fair upmarket retail chain that it bought in 2018 in a deal worth up to €25 million. Musgrave said in its annual report that it spent €40 million on revamps and new store openings in 2021.
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