"SuperValu has superb food credentials with butchers present in all our stores and an exclusive bakery offering rolling out across the network. However, the fresh food offering, which is synonymous with the SuperValu brand, continues to be an absolute focus in terms of developing our business. We have also developed our own brand range further with a series of new launches including; Supreme, Just Cook, Goodness and Cooks Ingredients. In addition to re-launching and re-packaging our existing SuperValu Own-Brand range, we have also further extended the SuperValu Rite Price value range, bringing real value to consumers across our entire family of own brand products."

In the Republic of Ireland, 75 per cent of SuperValu goods sold are either produced or sourced in Ireland, which is worth over €1.7bn at retail level.

Commenting on the outlook for 2008, Mr Horgan said; "Through partnering with our entrepreneurial retailers and meeting the needs of Irish consumers by delivering a choice of top quality products, value for money and superb customer service, we are confident that SuperValu will again make strong progress in 2008. We will continue to focus on delivering our Real Food Real People brand position through our product offer, store design, marketing activity and our people. As part of this agenda 41 existing SuperValu stores will be revamped at an investment of €39 million, while eight new stores at an investment of €25 million will be opened during the year. This will result in the creation of 700 new jobs across the SuperValu network. Together with our retail partners in communities across Ireland, we are committed to further enhancing our locally based offer, providing a real alternative to the multiples for Irish consumers."

Additionally, as part of the rollout of its sustainability strategy, Musgrave Retail Partners Ireland, on behalf of its network of independent SuperValu retailers reached a number of significant milestones. A sustained focus on recycling resulted in 68 per cent of the 27,000 tonnes of waste normally captured for landfill diverted for recycling.

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