Superstore profits not to be published

A call for supermarket multiples to be forced to publish their turnover and profit figures has been rejected by the Minister …

A call for supermarket multiples to be forced to publish their turnover and profit figures has been rejected by the Minister for Enterprise, Trade and Employment, Mr Martin.

The call was made last month by the independent grocers' body RGDATA.

Its director general, Ms Tara Buckley, told an Oireachtas committee that the main multiple retailers went to "inordinate lengths" to conceal their Irish turnover and profitability.

"It is wrong that large companies that have a significant influence on people's spending power are permitted to be so secretive about their operations in this market place."

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Mr Martin said companies were free to organise themselves in the most suitable form to run their businesses.

In a written Dáil reply to Ms Kathleen Lynch (Labour), he said multinational companies were required to file annual returns, with audited accounts, with the Registrar of Companies.

"It is not clear to me that there is a real problem in this area, and I therefore have no proposals to introduce legislation on the lines suggested."