Ingles Markets has booked an increase in first-half profits, boosted by higher customer traffic and gas sales.
The US retailer revealed net sales rose to US$1.85bn in the six months to the end of March, up from $1.8bn in the comparable period of last year. Growth was driven by a 2.3% increase in the number of customer transactions and a 4.3% rise in gas sales. Excluding gas and the impact of Easter on comparisons, grocery same-store sales were up 2.4%.
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During the period, net income rose to $19.7m, up from $17.1m. Net income rose to 1.1% of sales, up from 1% of sales in the comparable period of last year, Ingles revealed. The company said margins were boosted by the consolidation of its distribution centre, which was completed in 2012.
