ECONOMY

Supermarkets see only marginal drop

The supermarket sector posted an annual decline in turnover of 1.4 percent in 2010, which is estimated to have grown to 2 or 3 percent in 2011, according to an ICAP survey released on Thursday.

However the drop, which was the first in 20 years, was far smaller than the general decline seen in retail commerce.

Supermarket group profits were almost the same in 2010 as in 2009, dropping just 0.05 percent, the survey of all the sector?s 82 companies found.