McColl’s have reported strong growth in the final quarter of 2017. The group grew by nearly 30% in the fourth quarter, and by almost 20% for the year, achieving annual revenues of more than £1bn for the first time.
McColl’s say the growth is boosted by the acquisition of 298 convenience stores. Like for like sales grew by 0.1% in convenience stores and 0.2% in newsagents.
CEO Jonathan Miller said: “McColl’s is well positioned to continue to take advantage of the growing convenience market, with clear opportunities to enhance organic growth across our estate, as well as continued expansion through our acquisition programme.”
Miller attributed McColl’s success in part to store refreshes and said another 100 are planned for 2018.