Family supermarket chain Booths reported it has recorded “solid”end year results despite a “tumultuous grocery market”.
The firm which opened its first store in Blackpool in 1863 and this week opened a new store in Poulton, saw sales for the year down a fraction by 0.5 per cent to £280.8m.
The company said it had been held back by food deflation and a highly competitive retail market but made a modest profit of £1.6m.
It said it had made significant financial investments in a “Fair Milk” scheme in May 2014, vowing to pay the highest farm gate price in the market to farmers supplying Booths. All own label milk was rebranded as Fair Milk.
Booths CEO Chris Dee said: “In a highly charged retail market Booths has stayed true to their roots by undertaking fair practice with suppliers.
“Our suppliers are vital to the continued success of Booths and we remain committed to supporting small scale artisan producers and farmers.
“With the addition of five new stores, an exceptional “Great Northern Christmas” offer nationwide, and a significantly increased own label range, Booths can look forward to a bright future.”