By BFN News | 07:29 AM | Tuesday 02 December, 2014
McColl's Retail Group said despite tough market conditions it expects 2014 results to be broadly in line with expectations. "I am pleased with our overall progress during the year. In line with the strategy we set out at IPO," said CEO James Lancaster in a statement. "We have continued our expansion into convenience through store, product and service development. Customers are responding well to our improved convenience offer, but with disposable income under continued pressure, the consumer outlook remains challenging." Highlights: �§ Strong growth in total sales, up 5.0% in Q4 and 4.2% year to date. �§ Q4 like-for-like sales slightly down year on year (-1.0%) but ahead 0.7% for the year to date. �§ Convenience estate development delivered in line with plans set out at IPO. �§ Successful completion of Post Office conversion project. Story provided by StockMarketWire.
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