Harvey Norman upbeat as losses are cut

The directors of the Irish arm of retailer, Harvey Norman remain upbeat over the group’s future after last year reducing losses for the fourth year in a row.

New accounts just filed by Harvey Norman Holdings (Ireland) Ltd show that the group’s underlying operating losses last year totalled €15.4m, representing a reduction of 12.2% from the prior year.

The directors state that when adjusted for foreign exchange revaluation variances, the loss for the year was €14m, which was a 25% improvement on fiscal 2013.