The Government has been urged to renew the Groceries Order, which prevents below cost selling, "to maintain competition in the supermarket industry and remove current uncertainty".

The call was made by Mr Seamus Scally, group managing director, Musgrave Group.

Mr Scally said the Groceries Order had given stability, price competition and consumer protection, as well as preventing below-cost dumping.

Mr Scally said Musgrave had enjoyed another good year last year, with turnover up 14 per cent to £1.34 billion (€1.7 billion).