Annual Report & Review 2018
In 2018 we delivered our fourth consecutive year of improved profits, putting us on track to deliver on our ambitious strategy for future growth.
Although Brexit is on the horizon, creating short term uncertainty for our markets, we remain committed to growing our business by leveraging our strengths in food and brand innovation – delivering unique and exciting eating experiences for our consumers in and out of the home.
Chris Martin, CEO, Musgrave
In Musgrave, we have set our purpose as Growing Good Business – developing the company sustainably for the benefit of partners, colleagues and the company – and this underpins a vision for transforming the food business in Ireland. It is a vision that creates opportunities for Musgrave at every eating occasion.
Today I am inspired to see just how engaged our people and our partners are in delivering on our 2025 vision and how they are energised by the opportunities that the transformation of retail and wholesale promises for our business.
I am pleased to report that 2018 has been a successful year for Musgrave. Despite extremely competitive markets, for the fourth year in a row the Group has reported increased profit, with all of our brands performing well throughout the year.
Our 2018 highlights
The last year has been defined by innovation and the delivery of our future vision for retail and wholesale, the acquisition of new businesses, and the creation of new food brands to meet the needs of modern consumers.
Financial highlights
Musgrave sales €3.9 billion
Retail sales €5.2 billion
Group turnover € billions
Profit before tax € millions
Net cash € millions
People
Stores
Taking care of our world
Sustainability has always been important to the business and it is reflected in the clear, measurable commitments outlined in our Taking Care of our World strategy. This strategy has become embedded in the business, and in 2018 we added further commitments to tackle plastic packaging right across our supply chain.
- Inspiring healthier lives. We will improve the health of 2 million consumers across the island of Ireland.
- Building sustainable communities. We will make a positive impact on the planet by enabling our partners to make every local community in Ireland a sustainable community.
- Sourcing responsibly. We will be the most trusted food operator across the island of Ireland, known for the integrity of our supply chain from farm to fork.
- Caring for our world. We will minimise the impact of our operations on the world around us and use our network to influence others to do likewise.
