Irish arm of Arcadia reports operating losses of €1.89m
Dorothy Perkins and Burton owner sold Top Shop brands last year
Dorothy Perkins in the Jervis Centre
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.