Dunnes’ UK pre-tax profits up 29%

Pre-tax profits at the UK arm of Irish-owned retail giant Dunnes Stores last year increased by 29% to £15.9m (€18.5m).

According to returns just lodged by Dunnes Stores (Bangor) Ltd to Companies House in the UK, the firm enjoyed the profit upswing in spite of revenues decreasing by 5% from £166.3m to £157.5m in the 12 months to the end of Feb 2, 2013.

The main factor behind the increase in pre-tax profits from £12.37m to £15.94m was the firm’s cost of sales decreasing by 9.5% from £107.5m to £97.25m. The firm’s operating expenses declined from £47.37m to £45.6m.