Musgrave to spend €80m as grocery group returns to profit

Food retail and wholesale group Musgrave plans to spend between €70m and €80m on improving its business this year on the back of posting its first annual net profit in three years.

Musgrave to spend €80m as grocery group returns to profit

The Cork-headquartered group — which owns the SuperValu, Centra, and Daybreak retail grocery brands — yesterday, via its annual report, reported a pre-tax profit of €67.5m for 2015 and sales of €4.4bn.

When the loss-making UK business — Musgrave completed the sale of its Budgens brand, there last September — is excluded, turnover amounted to €3.7bn, with pre-tax profits coming in at €52.8m.

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