Home Retail Group’s Homebase operation in Ireland recorded a pre-tax loss of EUR36.6 million (USD50.89 million) in the year to the end of February 2009.

Homebase House and Garden Centre Ltd’s recently filed accounts show that the operation incurred impairment charges of EUR38 million (USD52.84 million), attributed to the downturn in the retail sector. Turnover fell by 2% from EUR69 million (USD95.94 million) to EUR67.5 million (USD93.86 million).

The Irish unit of Argos, meanwhile, saw pre-tax profits boosted to EUR16.8 million (USD22.64 million), from EUR5.4 million (USD7.51 million) in 2007/08. Operating profit grew from EUR13.3 million (USD18.49 million) to EUR30.5 million (USD42.41 million). Accounts for Argos Distributors (Ireland) Ltd show a 13% fall in turnover from EUR315.3 million (USD438.43 million) to EUR273 million (USD379.61 million).

The directors stated that the drop in sales “was primarily due to the current economic climate and resulting retail downturn and this despite the opening of two new stores in Portlaoise and Sligo”.