ADM Londis to open 40 stores despite downturn

ADM Londis, which yesterday reported a 20% increase in pre-tax profits to €6.1 million, will open 40 new stores this year.

The company, however, expects the coming months to be more competitive.

Londis chairman, Leo McCauley said retailers are “facing downward pressure on prices, combined with rising interest rates and rising business costs”.