Higher costs contribute to see Argos profits fall

Pre-tax profits at the Irish arm of Argos last year decreased by 31% to €14.1m, figures show.

According to accounts filed by Argos Distributors (Ireland) Ltd to the Companies Office, revenues at the firm increased marginally, from €213.8m to €214.6m, in the 53 weeks to the end of Mar 3 last year.

The pre-tax profits decreased from €20.4m to €14.1m, with higher operating costs and finance income decreasing by 42%, falling from €7m to €4m, being the main factors behind the drop in profits.