Nisa Retail has reported sales of £1.3m for the 53 weeks to 3 April, in what chief executive Nick Read said had been a “challenging, but ultimately pleasing” year for the wholesaler and convenience group.
Sales were down 1.9% on the previous year, but up 2.3% when adjusted for the loss of Costcutter, while underlying profit was £0.6m compared to a £5.4m loss the previous year.
Fresh sales were up 6% to £210m, while Heritage sales rose 7.9% to £119m, the group said.
Nisa Retail Limited chief executive Nick Read said: “The business experienced the biggest swing in profit in its 39 year history as we sought to stabilise the company, address historical issues and lay the foundations to return to profitable growth and build for it a sustainable business model.
“Nisa is now very much back on an upward curve, with the business having already seen a 3.5% increase in weekly sales in the first 12 weeks of FY17, and we are extremely positive about our future.”
Source: Nisa