Centra turnover rises 25%

Turnover at the Centra independent convenience store group increased by 25 per cent to £427 million (€542 million) last year.

When the contribution of new stores opened during the year is stripped out, underlying group turnover was up 18 per cent.

The latest results follow a 24 per cent rise in turnover and underlying growth of 11 per cent for 1999. The group's annual conference in Citywest in Dublin this weekend was attended by 300 independent store owners. At the conference, sales director Mr Michael Smith said Centra's 298 stores accounted for 6 per cent of the total national market estimated to be worth about £6.6 billion (€8.38 billion).

He suggested its growth reflected a shift in consumer shopping habits and preferences towards ready prepared foods and convenience stores.

"Consumers' habits are changing causing a demographic shift that translates to be a cash-rich time-poor population.

"This lifestyle shift with both partners in 45 per cent of households working outside the home has resulted in a greater demand for convenient and competitively priced products," he said.

The Centra group was formed in 1979 in Munster and is owned by the Musgrave Group.