McColl’s Retail Group has unveiled a solid set of full year sales including 60 new convenience store openings.
In total, the group now has 800 convenience stores. A further 45 newsagents were also converted to the food and wine format in the 53 weeks to 30 November.
Like for like sales are steady, increasing by 0.7% while total revenue increased by 6.1%. The group also made a pre-tax profit of £12.6m in comparison to the £4.4m made in 2013.
The post office conversions have been completed ahead of target, “providing our customers with convenient and longer time periods to carry out post office transactions,” said chief executive James Lancaster.
He added: “It has been a year of strong growth despite the wider macroeconomic trends. The market continues to be challenging and competitive, but full of opportunities too. We will continue to grow our convenience store business as we head towards achieving our target of 1,000 stores by the end of 2016.”