ADM Limited today said profits had risen by over 23 per cent to €7.8 million.
The company, which operates 260 Londis retail outlets, said year-on year turnover increased by 13.4 per cent to €258 million.
Earlier this month, ADM confirmed it had acquired the Topshop chain of convenience stores from Tedcastle Holdings in a deal believed to be worth between €7 million and €9 million. Topshop operates 120 convenience stores around the State, employing 2,000 people.
Mr Leo McAuley, ADM chairman, said rebates earned by retailers increased by 10.7 per cent last year.
Londis and Topshop now has 7 per cent of the national food retailing market. The group employs 4,000 people and said it intends to open a further 60 outlets this year.
