Family grocery store chain Booths stated it has recorded “solid” end year results in spite of a “tumultuous grocery market”. The firm saw pre-tax revenues tumble to £1.6m in the year to April, down from £4m in 2013-14. The firm, which started its first store in Blackpool in 1863 and this week opened another store in Poulton, saw deals for the year down a part by 0.5 percent to £280.8m.
The supermarket said food deflation and an exceptionally aggressive retail market had kept it down. The company however made an unassuming profit of £1.6m. It said it had made noteworthy financial interests in a “Fair Milk” plan in May 2014, vowing to pay the most elevated farm gate price in the business sector to ranchers supplying Booths. All own milk was rebranded as Fair Milk.
Booths CEO Chris Dee said: “In a very charged retail industry Booths has stayed consistent to their roots by undertaking reasonable practice with suppliers. “Our suppliers are essential to the continued achievement of Booths and we stay focused on supporting small-scale artisans and agriculturists. “With the expansion of five new stores, an excellent “Great Northern Christmas” offer across the nation, and an expanded own name range, Booths can anticipate a brilliant future”.
Recently Booths had opened two new stores. First of which was in Burcough, a village near West Lancashire in North West England and the second in Lytham St Annes. The later is a metropolis in the Fylde district of Lancashire, England.