Guiney’s pre-tax profits down 79%

Pre-tax profits at discount department store retailer Michael Guiney decreased sharply by 79% to €354,210 in 2010, new figures show.

Accounts recently filed by Michael Guiney Ltd to the Companies’ Office show the group sustained a 17% drop in revenues from €23.5m to €19.4m in the 12 months to the end of January 2011.

The retailer has shops in Dublin, Cork, Limerick, Waterford, Castlebar and Tralee.