Northern Ireland-based family-owned independent retail group Ulster Stores has reported a slight decline in sales as revenues remained strong.

According to its latest filed accounts for the year ended 31 January 2024, total sales dipped 2% to £14.3m from £14.6m in 2023.

EBITDA stood at £1m, down from £1.3m, while pre-tax profit resulted at £423,000, also down from £814,000 recorded the previous year.

Stated within its report, the Coleraine-based business, which trades across three stores, said that it closed its online proposition at the end of December. “Increased costs and competition had become a challenge and higher transaction values instore reinforced that our customer preferred to shop this way with us.

“The focus on our strategy ‘Shop, Eat, Experience, Discover’ has continued by looking to enhance the physical experience for our customers and to give compelling reasons to visit our stores.”