Pretax losses rise at frozen-food retailer Iceland

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Pretax losses rise at frozen-food retailer Iceland via IrishTimesBiz

Referring to sales declining by 21.6 per cent in a note with the accounts, the directors said that “the Covid-19 pandemic changed consumer lifestyles and purchasing behaviour, creating challenges for both the company and the retail sector as a whole”.

On the year to March 25th, the directors said that “this was a challenging year for the company, meeting the unprecedented challenges of the Covid-19 pandemic”. The firm incurred some Covid-related costs throughout the period and this year those exceptional costs totalled €264,000 and this followed an exceptional cost of €455,000 in the prior year.

The losses this year take account of lease payments of €2.69 million and non-cash depreciation costs of €3.15 million.

 

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