McColl’s seeks ‘stability’ as profits nosedive

McColls 1

McColl’s has posted a decline in profits at the interim mark despite an uplift in sales as boss Jonathan Miller says the group plans to “refocus on retail execution”.

The convenience store group, whose profits were hit by the collapse of Palmer & Harvey last year, recoded a 91% drop in pre-tax profit to £200,000 in the 26 weeks to May 26.

The retail group recorded a 19% fall in adjusted EBITDA to £13m, while total revenue inched up 0.1% to £611.1m, bolstered by a 1% rise in like-for-like sales.

McColl’s adjusted group margin during the period was 25.4%, compared to 26.1% the previous year.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.