Iceland eyes more stores as losses halved in Republic

Food retailer Iceland has confirmed plans to expand the number of its stores in the Republic as its losses more than halved.

The accounts filed by Iceland Stores Ireland Ltd show the pre-tax loss dropped to €364,000 from €771,000 in the 12 months of trading to March 24.

Revenues increased by almost a third to €30.1m, helped by new stores openings. The group has 16 shops and now plans to open more.