Centra MD Ian Allen identifies soaring business costs as sales rise to a record €2.1bn 

Centra's managing director says their record year was boosted by 10 new store openings — but that energy prices, interest rates, theft, and staff costs were affecting retailers' margins

Musgrave Centra SuperValu MD Ian Allen attributed Centra's bumper year to new store openings and sales growth in categories such as on-the-go food, bakery, and coffee. File picture

Centra managing director Ian Allen has welcomed a record year for the retail group, with total sales exceeding €2.1bn in 2023, even as the business faced major cost challenges.

Speaking to the Irish Examiner, Mr Allen said the cost of doing business was putting many companies under severe pressure, and has been made worse by a surge in the number of thefts at the stores amid the cost-of-living crisis.