UK DIY News
Pre-Tax Profit Falls At B&Q Ireland
In its latest financial update - covering the year to January 2018 - B&Q's Irish business reported sales of €86.2m, an increase of 1.4%. Pre-tax profits, however, declined by over one third, dropping to €2.5m.
- Administration expenses rose by €1.2m to €6.2m
- Selling and distribution costs declined by nearly €600k to reach €26.1m
- Wages dropped from €11.1m to €10.8m, although staff numbers remained similar
- Director termination payments were in the region of €167,000
B&Q's Ireland went into examinership in January 2013 and successfully exited it in May 2013, saving 640 jobs.
Parent company Kingfisher operates eight B&Q stores in Ireland, employing around 550 staff.
Source : Insight DIY Team
Image : Chris Warham / shutterstock
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