McColl’s sales rise following IPO

McColl’s posted strong sales yesterday and said it is pushing ahead with new store openings as it published its first update since listing on the London Stock Exchange last month. The retailer, which owns 1,279 newsagents and convenience stores, said total sales rose three per cent in the 19 weeks to 6 April while stores open more than a year rose 1.4 per cent. Shares in the company are still below their 191p issue price.