LOW-COST supermarket chain Netto credited a revamp of its stores for an 11% rise in sales.
The retailer, which has a store at Aspley in Huddersfield, said takings totalled £696m in 2007 against £627m the previous year.Operating profits trebled to £9.3m from £3.1m as the company increased its market share by 11.2%.
A shake-up of the business by managing director Richard Lancaster, who took the helm in January last year, included introducing new and wider product ranges, improving the appearance and appeal of stores and changing store layouts.
Mr Lancaster said: “The figures speak for themselves – the business made significant progress in 2007 and that trend is set to continue in 2008.
“Our financial results bear testimony to the ability, commitment and sheer hard work of the entire Netto team. Change is hard for any established business, but my colleagues across the UK have embraced the challenges and delivered excellent results.
“Building on our achievements to date, our focus is to develop the business further via new store openings and strong like-for-like sales growth to drive turnover forward again during 2008.”
Netto, which has 182 supermarkets across the UK, plans to open at least 20 new stores in the next 12 months.