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Nisa bosses have hailed a strong year as the convenience sector settled after the Covid rush.

The Scunthorpe-headquartered retail giant saw sales drop from a record £1.6 billion high in 2020 to £1.38 billion in 2021 - almost 14 per cent.

John McNeill, chief operating officer for The Co-operative Group-owned entity, said the loss of a major customer had impacted, but enthused about the £7.5 million return generated, down from £10.9 million in 2020, when it turned round a £9.4 million loss.

Read more: Six East Yorkshire village convenience stores to become Nisa outlets

It finished its financial year, which ended on January 2, just behind 2019’s £1.42 billion turnover, with the margin increasing from 11.5 per cent to 12.7 per cent.

In his strategic report accompanying the results, he said: “In 2021, the business experienced the roll off of a major customer in the early part of the year, as well as a Covid-19 sales reversal, compared to the 2020 record breaking turnover year.

“The business has delivered another strong profit in 2021, with marking improvements offsetting increased distribution costs.

“The gross margin improvement was driven by an improved sales mix, with lower sales of tobacco and licensed products, partly driven by the reversal of Corvid benefit enjoyed in 2020, as well as price rises and other margin initiatives.”