Spar sales surge 11% as it prepares to smash through €1bn barrier

SALES in Spar convenience stores surged 11% to €960 million last year and will smash through the €1 billion barrier in 2005, BWG Holdings said yesterday.

BWG, whose businesses include the Spar and Mace brands as well as food and drink outlets in Britain, yesterday reported operating profits of €48.7m for the year to December, a 35% increase. Like-for like turnover was 11% ahead at €1.6bn, but total sales were down around €200m on the previous year following the sale of non-core businesses in Britain.

BWG chief executive Leo Crawford said he was “very happy” with the performance and that 2004 was a year of continued progress despite an increasingly competitive market.