Henderson group sees 10% increase in pretax profits

HENDERSON GROUP, which owns the franchise for Spar brand in Northern Ireland, achieved a 10 per cent increase in pretax profits and a record turnover last year as it added 17 new stores to its network and launched a convenience store format, Vivo Essentials.

The symbol group wholesaler and retailer had turnover of £407 million (€511 million) in 2007, with pretax profits climbing to £9.8 million (€12.3 million).

In addition, the company also owns the franchise for Eurospar, Vivo and Vivoxtra in Northern Ireland, and supplies almost 400 independent retailers through Henderson Wholesale.

It owns and operates 60 convenience stores and petrol forecourts through Henderson Retail.

The group said yesterday that it would invest £20 million (€25 million) in 2008 to help develop the businesses of its retail partners and its company-owned network of stores.

Last year its total investment was £18 million (€22.6 million).

Paddy Doody, who is the sales and marketing director at Henderson Wholesale, said that the group would continue to concentrate on developing relationships with brands such as Subway, Supermac's and Tim Horton's coffee and doughnuts.

"Despite growing pressure on the convenience store sector, this is an encouraging time for Henderson Group and its independent retail partners," Mr Doody said.

The group employs almost 2,000 people, while a further 5,000 people are employed by its independent retail partners in the North.

Mr Doody said that the company was "continually reviewing our support package to the independent retailer...to ensure that we best meet the needs of the local independent retailer and, in turn, the local consumers".