Costcutter Supermarket Group’s interim supply arrangements in the wake of the collapse of Palmer & Harvey led to a pre-tax loss of £17.1m in 2018, according to the latest annual results from parent company Bibby Line Group.
Costcutter Supermarket Group’s interim supply arrangements in the wake of the collapse of Palmer & Harvey led to a pre-tax loss of £17.1m in 2018, according to the latest annual results from parent company Bibby Line Group.
The first seven months of 2018 were characterised by a period of unprofitable trading under interim supply arrangements, but performance improved over the final five months of the year once the Co-op supply deal went live, Bibby said.
Pre-tax loss in the interim period was £15.5m, reducing to a £1.6m loss from August to December 2018. Costcutter’s turnover for the year was £387m.
A spokesperson said 2018 was “a pivotal year”. “The first half was focused on supporting retailers while we brought the new supply deal with the Co-op live. The second half was boosted by a good pace of sales recovery as our retailers reacted positively to the new deal and the offer it enabled them to provide shoppers. Our focus is on, and investing in, supporting our retailers to leverage the strength of our offer.
“We are confident we have a strong platform to enter into the busiest quarter of the year.”
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