The Convenience Shop (Holding) plc - Full-Year Results

On 28 April 2025, The Convenience Shop (Holding) plc published its Annual Report and Financial Statements for the financial year ended 31 December 2024.

Revenue remained practically unchanged at €46.4 million as the Group experienced a challenging year amid a marked increase in competition in the retail fast moving consumer goods market, influenced by high inflation and increased competitive pricing

Operating costs increased by 2.6% to €44.4 million (2023: €43.3 million). The Company explained that it invested in its operating capacity in preparation for an expansion program that is expected to yield returns in 2025. Consequently, the operating profit slumped by 35.8% to €1.94 million (2023: €3.02 million) and the operating profit margin fell to 4.2% from 6.5% in the previous year.

After accounting for other income of €0.67 million, net finance costs of €0.97 million and a tax charge of €0.28 million, the company reported a net profit attributable to shareholders of €1.36 million, which is 48.1% lower than the €2.63 million reported in 2023, resulting in a return on average equity of 13.9% (2023: 30.2%).

In terms of financial position, total assets increased by 7.7% (or €3.0 million) to €41.8 million compared to €38.8 million as at the end of 2023. Similarly, total liabilities increased by 10.6% (or €3.1 million) to €32.1 million. Meanwhile, shareholders funds remained practically unchanged at €9.73 million.

Dividend

The Directors declared a net final dividend of €0.024 (final dividend 2023: €0.036) to shareholders as at close of trading on Wednesday 28 May 2025, subject to shareholders’ approval at the upcoming Annual General Meeting scheduled for 1 July 2025.

Coupled with the net interim dividend of €0.010 per share paid in September 2024 (interim 2023: €0.015), the total net dividend attributable for the 2024 financial year amounts to €0.034 per share, which is 33.3% less than the €0.051 paid last year, and represents a payout ratio of 77.3%.

Outlook

In their commentary, the Directors explained that for 2025, the Group is expecting a 17% increase in revenue to €54.4 million. This is forecasted to translate into an operating profit of €2.48 million and a net profit of €1.67 million. The directors explained that the Group is amplifying its digital presence, opening new outlets and refurbishing existing locations.