Irish arm of Arcadia reports operating losses of €1.89m

Operating losses at the Irish arm of UK retailer Arcadia, which sells the Dorothy Perkins and Burton brands, last year totalled £1.54 million (€1.89 million).

Accounts filed with Arcadia Group Multiples (Ireland) Ltd to the Companies Office show the firm recorded the loss after revenues decreased from £46.6 million to £19.74 million in the 12 months to the end of August 31st, 2013.

The operating loss of £1.54 million followed an operating profit of £311,000 in 2012.

The firm's revenues dropped after the company completed the sale of its Top Shop and Top Man brands to connected firm Top Shop/Top Man (Ireland) Ltd for £8 million.

A large factor in the £1.54 million operating loss was an exceptional charge of £2.4 million. The firm recorded a pretax profit of £6.2 million through the profit of £8.2 million on the internal sale of the top Shop and Top Man brands.

The pretax profit includes interest payable of £512,000.

Top Shop/Top Man (Ireland) Ltd has yet to file accounts for last year.