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Golden Discs sees its sales fall due to 'competitive forces'

Golden Discs' latest annual returns show a 7.5pc drop in sales for the year ending last June. Management said extremely competitive market forces were the primary reason.

"Aggressive pricing and margin deterioration was exacerbated by a very poor summer release schedule as a result of numerous sporting events such as Euro 2012 and the Olympics," said managing director Stephen Fitzgerald.

Sales dropped from €10.7m to €9.9m, leading to net losses of €129,000.

Irish Independent