Costcutter Supermarkets Group (CSG) has reported one of its strongest set of financial results to date, with sales increasing by 10% to £426m for the period 1 January to 31 December 2019.
The symbol group also saw a £9m rise in earnings before tax (EBITDA) to £5.1m, completely reversing 2018’s loss of £4.2m.
CSG boss Darcy Willson-Rymer (pictured) said 2019 had been an “outstanding” year for Costcutter.
He added: “Our ability to create innovative solutions that help our independent retailers put their shoppers first and grow their business has been pivotal to our success story in 2019. Over the past 12 months we have accelerated our investments in our overall retail offer and the guidance and support we provide for our retailers.”
The lockdown-induced resurgence of the convenience channel was reflected in a 22% rise in non-tobacco sales across the first four months of 2020, and Willson-Rymer plans to convert the ‘lifeline’ shoppers responsible for the spike into loyal Costcutter regulars.
He explained: “We will do this through both the Shopper First programme and its proven ability to help participating stores focus on the right range and offer with an emphasis on fresh foods, and by helping retailers become even closer to local communities through an increased focus on digital experience and platforms such as Uber Eats.”
Willson-Rymer also revealed an ambition for CSG to be the” best loved and most shopped” symbol group in the UK: “By continuing to focus on bringing communities together to make their lives easier and more prosperous, we can build on the success we have achieved in 2019 and fulfil our purpose of helping independent retailers thrive.”
