Sales fall helps keep IWP in red

LIKE-for-like sales at IWP tumbled 12% to €170 million last year as weaker sterling and the closure of a loss-making subsidiary hurt the household products group.

Pre-tax profits fell from €4.8 million to €1.1 million, but exceptional items of €11.4 million brought the bottom line firmly into the red.

Operating profits increased from €2.5 million to €4 million.