Xtra-Vision expects to retain profitability

IRISH-OWNED home entertainment retailer Xtra-Vision has said it expects to retain profitability in its current year and is hopeful of expanding its store network next year.

Speaking at what was effectively a trading update for the company — now owned by Birchhall Investments Ltd (basically a joint venture between Pageant Holdings and NCB Ventures) — Xtra-Vision’s chairman/chief executive, Peter O’Grady-Walshe said yesterday that the current year has seen “the toughest trading conditions the group has ever witnessed”.

Despite this, Xtra-Vision’s sales are traditionally biased towards the end of the calendar year. The company’s financial year runs until the first week of January. Last year, Birchhall made a pre-tax profit of €155,000 and expects to show a profit again in the current year.