BWG, the operator of the SPAR and Mace supermarket chains, reported a 15 per cent rise in operating profit to euro38million for 2003.
Turnover for the group was €1,843 million. The company's growth in 2003 was driven by strong performances by "symbol" brands including SPAR and Mace in the Republic of Ireland and Bargain Booze in the UK.
Over 55 per cent of turnover for the company is generated in the Republic with the rest in Britain and Northern Ireland.
According to Mr Leo Crawford, chief executive of BWG, the disposal of non core businesses, together with other property disposals and strong operating profit performance, realised cash in excess of euro100 million.
In addition the company is currently refinancing debt and this should lead to interest savings of approximately euro4 million a year.
Looking to the future Mr Crawford said, that the company sees strong opportunities for growth across its businesses and in particular its three key symbol brands across Ireland and the UK.