Londis happy with 62% growth in profits

CONVENIENCE retailer Londis’ 2006 financial year got off to a buoyant start following a 62% growth in company profits last year.

The group held their Annual Retailer Conference at Lyrath Estate Hotel, Kilkenny yesterday, where delegates heard that the company is on target to achieve its profit growth objectives with sales growth through the Londis central buying system increasing by 7%.

The share price on the grey market has risen by 30% to €62.59 from 2004’s share price of €48.15. However, the rate of increase has slowed, since April ‘06 it has risen just 8 cents when it stood at €62.51.