Business Irish

Thursday 2 October 2014

Operating losses at Irish arm of Laura Ashley fall to €63,600

Published 24/12/2012 | 05:00

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THE Irish arm of retailer Laura Ashley narrowed its operating losses to €63,600 from €280,000 in its last financial year even as revenue tumbled by a quarter to €7.1m. The directors of the firm said they considered the company's position to be "satisfactory".

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Accounts just filed for the British firm's Irish subsidiary reveal the performance for the 12 months to January 28 compared to the previous financial period. The company has a handful of outlets here, while its products are also sold through House of Fraser in Dublin's Dundrum Shopping Centre.

The accounts also show the company recorded a final profit for the latest financial period of €39,500. That compared to €156,100 the previous year.

However, that profit recorded in 2011 was flattered by a €790,000 gain from the sale of property, plant and equipment. The company paid a €1.6m dividend to its parent in 2011, but nothing in the last financial year.

The Irish unit's operating expenses fell last year to roughly €4m from €5.3m a year earlier.

It has 211 outlets in the UK as well as more than 250 franchised stores abroad.

Irish Independent

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