Iceland is one of Britain’s fastest-growing and most innovative retailers, recognised as one of the best companies to work for in the UK.
2010 Iceland achieved record results for its financial year to March 2010. Total sales grew by 10.5%, including a like-for-like sales improvement of 4.3%, while EBITDA increased by 11.2% to £184.2 million. A total of 74 new stores were opened during the year, on schedule and on budget, representing the fastest rate of expansion by the group since the acquisition of Bejam in 1989.
Customer numbers continued to grow, aided by the build-up of the Bonus Card loyalty scheme, while independent mystery shop results confirmed further improvements in store standards and customer service.
Continued strong cash flow reduced net debt to £7.6 million by the year end, when the company repaid its old debt and replaced it with an unsecured revolving credit facility which will generate annual interest savings of over £2 million for the future.
In March 2010 Iceland improved its ranking in the Sunday Times Best Companies to Work For survey as one of the best 25 Big Companies to Work For in the UK. Iceland was the only food retailer to feature in the list and was the highest rated of all the big companies in the survey for staff satisfaction with their pay and benefits.
Retail Industry Awards In September Iceland was delighted to receive further recognition of its success when it was named Discount Retailer of the Year at the annual industry Oscars, the 2010 Retail Industry Awards. In November Iceland was named best UK frozen supermarket pizza retailer at the annual industry awards of PAPA, the Pizza, Pasta and Italian Food Association.
On 18 November 2010 Iceland celebrated the 40th anniversary of the opening of its very first shop in Oswestry, Shropshire, with a spectacular Charity Ball that raised over £750,000 for Help for Heroes, Iceland’s Charity of the Year. Combined with the proceeds of staff and customer fund-raising during the company’s annual charity week, this enabled Chief Executive Malcolm Walker to present Help for Heroes co-founders Bryn and Emma Parry with a cheque for £1.5 million from the Iceland Foods Charitable Foundation, Iceland’s umbrella for its continuing work with Good Causes.