Lifestyle Sports boss says group doing everything possible to stabilise finances

The chairman of the group that operates the Lifestyle Sports retail chain said that all three group businesses are taking the necessary action to return the group to profitability.

Victor J Stafford of Stafford Holdings made the comment as new accounts show that pre-tax losses at Stafford Holdings Ltd and subsidiaries increased by 70% last year to €1.9m.

Accounts just filed with the Companies Registration Office show that losses increased at the group in spite of revenues increasing by almost €10m from €327.5m to €337.3m in the 12 months to the end of Sept 30.