Nisa has reported a strong Christmas trading period and improved trading margin.
Profit for the 10 weeks to 3 January was £520,000, compared to a loss of £2.4m in 2014.
Sales for the period were up 6.3% on last year’s figures reaching £254.3m. Case volumes were also up 5.7%
The chilled category led performance, with sales up 23% to £42.9m. Confectionery also registered a sales increase of 12.8% to £17.1m in the 10 week period.
The improved Christmas trading performance was also assisted by “sharply priced promotional offers that were well received by members, and came as the firm’s turnaround strategy continued to gain momentum,” chief executive Nick Read said.
Nisa’s Christmas trading performance adds to the recent positive momentum from the turnaround plan, and re-confirms management’s full year EBITDA target of £7.2m, Read added.
“It is very pleasing to report improved trading, as many of our initiatives gain momentum. Last year the business made a loss during the Christmas period, so to register a profit of over half a million pounds, in a challenging marketplace and during a turnaround year for Nisa, is particularly gratifying.
“Our continued investment in a strong own brand range and competitive pricing has helped our independent retailer members to perform well through a key seasonal trading period – underpinning Nisa’s position as the partner of choice for convenience retailers,” he said.