Profits fall by 7% at Holland & Barrett

Expansion costs at the Irish arm of health food retailer, Holland & Barrett last year contributed to pre-tax profits decreasing by 7% to €5.48m.

The retailer increased the number of its Irish-based stores from 50 to 52 and this contributed to revenues – for the 12 months to the end of September - increasing by 10% to €33m.

According to the directors’ report section of the latest accounts, both the level of business and the year-end financial position, of the Irish subsidiary, “remain satisfactory”.