TRADING at Fitzwilton's Wellworths supermarket Northern Ireland has got off to a good start in the first few months of 1996, the group's annual general meeting has been told.
Standing in for the absent chair man, Dr Tony O'Reilly, Fitzwilton deputy chairman and chief executive Mr Kevin McGoran said sales in the first quarter of the year were up 10 per cent on last year, and up over 6 per cent on a "like for like" basis, when sales from recently opened stores are excluded.
Mr McGoran defended Fitzwilton against a series of criticisms from shareholder Mr Neil Duggan, which mainly centred on the investment in Waterford Wedgwood, the treatment of directors' remuneration in the annual report and the number of nonexecutive directors on the board.
Mr McGoran said that the investment in Waterford Wedgwood had been "an extraordinary success" for Fitzwilton and rejected suggestions that the group should not be investing in other public companies.
On directors' pay, Mr McGoran said that Fitzwilton complied fully with the requirements and would not comply with Mr Duggan's request that the and chief executive disclosed. He also defended Fitzwilton's having 10 non executive directors on the board.
