Golden Discs report sales to the tune of €37.4m

Irish Music retailer Golden Discs has reported annual turnover up 8%, from €34.6m to €37.4m, for the 12 months to March 2003.

The company has, however, reported a fall in after tax profitability from €880,000 to €700,000, caused mainly by a substantial increase in operating expenses. The company has cited increases in location costs and employee expenses as the main reasons for the decline.