Pre-tax profits at Musgrave increase by 3% to €72m

MUSGRAVE Group plc increased its pre-tax profits by 3% to €72 million last year but it said that the grocery market has changed permanently.

Chief executive Chris Martin said that whatever people’s incomes, almost every shopper is seeking out value to a greater extent today than they did a year ago.

“This demands fundamental changes to our ways of working in order to emerge with stronger businesses when recovery finally becomes a reality,” he said.