Profit jump to €29.8 m on the operator of spar stores

  • Profit jump to €29.8 m on the operator of spar stores
    Independent.t. E.
    Pre-tax profit of the owner of the Spar franchise in Ireland, BWG Group, rose by 23pc euros last year 29.83 M.
    https://www.independent.ie/business/irish/profits-jump-to-298m-at-operator-of-spar-stores-37264913.html
    https://www.independent.ie/business/article37264912.ece/7d977/AUTOCROP/h342/2018-08-30_bus_43664961_I1.JPG

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Pre-tax profit of the owner of the Spar franchise in Ireland, BWG Group, rose by 23pc euros last year 29.83 M.

RGP unlimited company and subsidiaries operate a chain of stores throughout Ireland and the UK, the group’s revenue increased slightly, from €1.392 billion to €1.41 billion, for the 12 months to the end of September.

The breakdown of the group’s revenue show that 87.5 PC was created in Ireland, for a total amount of 1.22 billion and the remaining €174.6 m established in the UK.

The number of employees in the past year fell from 1,940 to 1,877 with staff costs increasing from €60.9 m to €70.79 m.

The group operates in Spar, Spar Express and Eurospar franchise in Ireland and in the South-West of England and operates under Mace and Londis brands XL in Ireland.

The group also operates in Ireland and the UK distribution centres, which provide its affiliated retailers.

He also has 21 cash & carry outlets under the brand name Centre value of the whole of Ireland, who supply independent retailers, licensed trade, public catering and hotel business.

The Director said that they believe that the results for the year and trading prospects for the future are satisfactory and their intention to continue to develop an existing business.

The group’s operating income last year increased by 18.5 PC, from €28.12 m to €33.2 m. the Group recorded a profit before tax of €29.8 m after costs of Finance 3.4 million euros. Operating profits take into account non-cash amortization and depreciation expense in the amount of 13.7 m.

Cash on the balance sheet increased from €45.88 m to €50.19 M. the Group enjoyed after-tax profit of $ 27.23 m after tax profit in the amount of 2.59 m.

To pay up to three Directors, John Clohisey, Leo Crawford and John O’donnell, last year increased from €1,04 m to €1,07 m.

In Johannesburg, the listed spar South Africa (SSA), owns 80pc stake in bwg and it was reported earlier this year to investors that sales in the RSE rose by 2.9 PC € 730m for six months, until the end of March this year.

CCA showed that Emma storm that paralyzed here transport services and caused panic sale of bread and other food products, contributed to “significant turnover” in the RSE.

The FSA said: “the business turnover recorded a significant growth in the month of March, not only affected by the earlier Easter, but is also determined by the main storm that shut down most of Ireland and the United Kingdom, as consumers buy large quantities of food and drinks.”

Accounts show that in July 2016, the group paid £12.25 m for the UK retail firm, the West, the Group Appleby.

Cost of sales for the 12 months to the end of September amounted to EUR 1.2 billion and other expenses last year included store and distribution expenses in the amount of 60.2 m; marketing and selling expenses in the amount of €54,6 m. and administrative and expenses in the amount of 44.27 m.

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