'Big ticket' sales drive growth at Homebase
The sale of 'big ticket' items at the Irish network of Homebase stores last year drove revenues on a like-for-like basis by 13pc.
New accounts filed by Homebase House and Garden Centre show that pre-tax losses at the business decreased by 73pc from €9m to €2.4m in the 12 months to the end of February 27th last.
Revenues at the business increased by 8pc from €43.74m to €47.56m.
However, the directors point out that on a like-for-like basis, revenues increased by 13pc as one store closed during the prior year.
The 13pc increase in growth followed 4pc growth in 2015.
The firm currently operates four stores in Dublin along with outlets in Limerick, Navan, Drogheda, Waterford, Letterkenny, Sligo and Portlaoise.
The directors state that the revenue increase on a like-for-like basis occurred "with growth broadly across all product categories, but particularly in big ticket".
The business also benefited last year from the reversal of an onerous lease provision that represented an exceptional gain last year of €1.74m.
The directors state that total operating costs reduced by 5pc due to the closure of one store together with ongoing tight cost control.
Numbers employed totalled 448.