The Irish operations of UK retail giant, Home Retail, Argos and Homebase, both incurred losses last year.

The Irish units of home furnishing firms Argos and Homebase enjoyed contrasting fortunes last year.

The renegotiation by DIY chain Homebase of a number of property leases here in its recent examinership has resulted in the firm booking a €33m gain.

THE Irish arm of the DIY and garden centre retailer Homebase last year plunged further into the red, recording pre-tax losses of €46.1 million.

THE Irish arm of the British-owned Homebase last year recorded an operating loss as revenues dropped by 8% to €61.9m.