Centra revenues climb more than 15% as retail roll-out adds value

SALES AT convenience store operator Centra grew by 15.1 per cent to €1.38 billion in 2007.

Centra, which is operated by Cork-based wholesale group Musgrave, said its like-for-like sales growth was 7.1 per cent. The balance was provided by new stores added to the chain last year.

Centra opened 47 outlets in 2007 at a cost of €50 million. In addition, its retailers spent €17 million refurbishing and extending 82 shops. Moreover, it created 1,200 additional jobs last year.

The retail group, which is operated by franchisees, said 44 new Centras are planned for 2008, creating 1,000 jobs. This will involve an investment of €45 million while €20 million will be spent revamping and expanding 80 existing premises.

Managing director of Musgrave Retail Partners Ireland, Donal Horgan said: "We will continue to evolve our store network to reflect the new Centra brand proposition and roll out new products and in-store services to meet the growing needs of Irish shoppers."

Centra operates some 450 stores across Ireland, employing 14,000 staff.

The figures were released at the group's national conference yesterday, which was attended by some 440 franchise operators.

Centra is one of four symbol chains operated and supplied by Musgrave.

The others are SuperValu, Daybreak and Day Today. It also has retail operations in the UK and Spain.

Musgrave had sales of €4.6 billion in 2006 and made a pre-tax profit of €81 million.

© 2008 The Irish Times

This article appears in the print edition of the Irish Times