Irish arm of Homebase reports €46m pre-tax loss

The Irish arm of DIY retailer Homebase last year plunged further into the red to record pre-tax losses of €46.1m.

In accounts just filed by Homebase House and Garden Centre Ltd, the firm sustained the loss after booking a €43.5m impairment and onerous lease charge as a result of the continuing retail downturn.

The pre-tax loss of €46.1m in the 12 months to the end of February 26 this year follows the company sustaining a pre-tax loss of €1.26m the previous year.

The filings show that revenues at the firm - which operates 15 outlets across Ireland - last year dropped by 5pc from €61.9m to €58.7m.

Source : Independent.ie
www.independent.ie/business/world/homebase-reports-euro46m-pretax-loss-2972222.html