11% fall in Argos pre-tax profits

PRE-TAX profits at the Irish arm of catalogue retailer Argos last year fell 11% to €20.4 million despite a rise in revenues.

Accounts just filed by Argos Distributors (Ireland) Ltd show the company sustained the drop in profits after revenues climbed from €205.2m to €213.8m in the 12 months to the end of February 26.

The British-owned company operates 39 stores across Ireland and according to the directors’ report, “sales were up 4% on the previous year, despite the current retail downturn in the Irish economy”.