date:May 12, 2014
Ireland-based grocery wholesaler the Musgrave Group has said that poor trading in the UK contributed to falling profits despite the fact that it 'out-performed' flat conditions in its home market.
Musgrave reported sales of 4.8 billion across its businesses in Ireland, the UK and Spain for the full year to 31 December 2013, down 1.9% from 2012.
The company said that this is 'in line' with the previous year on a constant currency basis. Net debt at Musgrave was reduced by 19 million to 121 mil