Nisa promotions drive strong Christmas trading
On a like-for-like basis sales rose by 2.2%.
Growth was boosted by Nisa’s fresh produce range which registered a 17.7% increase for the period.
The business also enjoyed a significant improvement in profitability with EBITDA reaching £718,000 compared to £520,000 in 2015 and a loss of £2.4 million in 2014.
During the period, there were 77 new store openings compared to 54 last year.
The performance follows on from Nisa's contract win to supply McColl’s for the 298 new stores it has recently acquired from the Co-op.
Nick Read, chief executive of Nisa Retail, said: “We believe we have delivered a strong promotional mix to drive sales and footfall in our members’ stores. This has been possible due to the strong momentum the business has now built in its three year strategy, which has seen Nisa invest in and improve operational efficiencies while also delivering a consistently improving financial position.”
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