Profits slump at DIY retailer Associated Hardware

Pre-tax profits at retail hardware group, Associated Hardware last year fell 63.5% to €562,697.

New accounts for the company show the drop in profit in spite of revenues rising 17% from €55.2m to €64.7m.

Revenues have recovered to their highest point since 2011, having fallen 76% from a peak of €205m in 2007 to a low of €49.2m in 2013.