Colin Graves, who founded York-based Costcutter in 1986, is now executive chairman after handing over the managing director position to former finance director Nick Ivel. Costcutter now has 1,400 franchisees in Britain, Ireland and Poland. It charges them commission fees of 1%, yielding slim margins on overall sales that topped £455m last year. Costcutter plans to merge with the convenience-store group Nisa-Today’s, whose members are to vote on the proposed deal this month.

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Company details
ActivityConvenience store operator
Sales £m455
Profit £m7
Year endApr 05
Principal shareholdersColin Graves, Nick Ivel, Angela Barber, David Thompson, Kaupthing Bank

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* Supplied by company † Annualised figure