THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Iceland celebrates growth in sales and profits

Iceland Foods has reported a healthy increase in its sales and profits in its annual results today.

CITY & CORPORATE

Iceland celebrates growth in sales and profits

Iceland Foods has reported a healthy increase in its sales and profits in its annual results today.

In the 53 weeks to the end of March 2012, the group’s sales grew by 9.4% to £2.6 billion while net profit increased by 18.5% to £184.3 million. Like-for like-sales were up 6% and EBITDA rose by 22.5% to £230.2 million.

Earlier this year Iceland’s chief executive, Malcolm Walker, led a £1.55 billion management buy-out of the business.

Walker, who founded the group in 1970, said: "It is fantastic to be able to report the seventh consecutive set of record results since I returned to the business in 2005.

"I am particularly pleased that we have achieved this exceptional performance not by chasing short-term profit targets, but by resolutely doing the right things for our staff and customers for the longer term.

"We delivered strong like-for-like sales growth of 6% in a highly competitive market place, increasingly dominated by short-term promotional activity by the major multiples."

Walker added: "Our strategic priorities remain unchanged. The key benchmarks for Iceland will not be short term performance but satisfying our customers by continuing to offer great value, maintaining the quality of our products, keeping up the pace of innovation and providing great service by well rewarded and highly motivated colleagues.

"We will also make our products available to more customers through continued expansion of our store network in the UK and by exploring opportunities for further development of our offer overseas, with the support of our new investors."

Iceland also opened 18 new stores in the year, creating 1,000 jobs. The group now operates a total of 814 stores.

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
Fix The Dinosaur Roundtable 2018
Fix The Dinosaur Roundtable 2018
19 October 2018
The Euston Suite, The Hallam, 44 Hallam St, London W1W 6JJ
A Masterclass in IBMi Legacy Issues