Musgrave group sales rise to €4.5bn

The Musgrave Group has posted a pre-tax profit of €71m for 2011; 1% down on the previous year.

The Cork-headquartered food service and retail group’s chief executive Chris Martin, praised the financial performance — which also saw group sales rise by 1.6% to €4.5bn — given the current economic conditions.

“Despite the economic challenges and a consumer that is focused on spending less, we’ve delivered a good performance, with turnover and profit remaining steady for the third consecutive year,” he said.