Frozen food giant Iceland fell to a pre-tax loss of £4.1m last year - compared with a profit of £73.1 million in the previous year - as sales and market share dropped.
Sales fell 4.3% to £3.55bn while its market share went from 2.4% to 2.3% in the 12 months up to March 25. This reflected the contraction of the online grocery market, in which Iceland achieved a strong position during the pandemic.
The Deeside headquartred company opened 19 new stores but closed 21 over this period while staff numbers - which had been boosted over the pandemic - fell by around 1,400 to 28,850. In its outlook for the current financial year the company said it had seen year-on-year sales growth in the 12 weeks to June 18.
