ADM Londis profits up 35%

Irish wholesale and retailing group, ADM Londis has reported a 35% rise in pre-tax profits for 2013, with like-for-like turnover rising by 1%.

The group — which has more than 200 Londis- branded shops in Ireland — said yesterday that pre-tax profit amounted to €1.67m as of the end of last year; up from €1.23m at the close of 2012.

Despite the challenging market, the group’s management said 2013 was “a very successful year”, with the substantial profit hike, rising margins and enhancements to its buying power, marketing execution and capital structure.