Profits at Irish arm of Argos decrease 17% to €23.2m

PRE-tax profits at the Irish unit of Argos last year have decreased by 17% to €23.2 million.

Accounts just filed with the Companies Registration Office by Argos Distributors (Ireland) Ltd show that revenues at the firm dropped by 25% from €273m to €205.2m in the 12 months to the end of February last.

The directors state that revenues were 25% down “due primarily to the current economic climate and resulting retail downturn”.