Nisa Retail, the specialist delivered wholesaler and convenience retail expert, has reported its full-year results for the 53 weeks ended 3 April 2016.
The company saw sales of £1,309m, 1.9% lower than FY15 (3.8% if adjusting for week 53), but 2.3% higher when adjusting for the loss of Costcutter.
Fresh sales rose by 6.0% to £210m, and Heritage sales rose by 7.9% to £119m
Nisa has 476 new member stores and the firm improved margin performance by £3.8m while growing member numbers.
Adjusted earnings stood at £7.3m (target was £7.2m; FY15 was a loss of £2.9m), and underlying profit came to £0.6m (FY15: loss of £5.4m).
Weekly sales to week 12 of FY17 have been tracking 3.5% better than last year.
Nick Read, CEO of Nisa Retail Limited, commented, “It has been a challenging, but ultimately pleasing year for Nisa. 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.”