Spar sales rise 13% to €865m

Ireland's largest convenience store group, Spar, saw sales rise 13 per cent in 2003, according to figures released yesterday.

Margins tightened slightly in increasingly competitive markets but the group said it was "well-placed to retain its market position".

Overall sales in the group's 405 stores rose to €865 million. The group has a three-year plan that envisages sales topping €1 billion by the end of 2006. Spar Ireland managing director Mr Conor Whelan said yesterday it now expected to breach that target a year early.

"We are very pleased with the strength of our performance in 2003," Mr Whelan said. "One year into our three-year strategy, we are already ahead of our targets."

The franchise group, which is part of BWG, opened 35 stores in 2003 and plans to open a further 34 stores this year.

The group has said it expects to have 500 outlets by the end of next year.

Mr Whelan said investment this year by the group and its franchisees would amount to €80 million. Spar, which already employs around 8,000 people across the State, expects to create 600 jobs during the year.

Ireland outperformed the Spar brand internationally. Retail sales across the group's member countries was €27 billion, up 4 per cent.

Mr Whelan said Ireland was one of the "better performers" along with accession countries Hungary and Slovenia.