Lifestyle axe jobs to get in profit
According to accounts just filed at the Companies registration Office the company recorded a pre-tax profit of €1.34 million for the year to 4 October 2003. This wipes out the €3.4 million loss it made the previous year.
However, the accounts reveal that the company cut its workforce by 104 last year. The cuts came mainly from its sales and distribution staff. However, the job losses had little impact in reducing costs as the wages and salary bill was actually up from €12.1m to €12.2m. Lifestyle Sports employed 669 people at its year end.
