Thursday 25 May 2017

B&Q Ireland losses widen to €3.1m as revenue climbs

B&Q has used Ireland as a test-bed for new software. Photo: Bloomberg News
B&Q has used Ireland as a test-bed for new software. Photo: Bloomberg News
John Mulligan

John Mulligan

Losses at DIY chain B&Q's Irish arm rose six-fold to €3.1m in its last financial year despite turnover climbing slightly to €78.5m.

Directors at the company said the bigger loss was generated as it lowered prices and the business was hit due to the weaker euro.

Accounts just filed for the business show that total sales grew by €1.9m last year, with like-for-like sales having risen 5pc.

B&Q said that it had spent a year "re-energising the business through lower prices, simplifying in-store messaging and increasing customer transactions with targeted marketing".

B&Q Ireland emerged from examinership in 2013, and closed a store here.

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