Music giant HMV Ireland saw a 90% fall in profits last year
"PROFITS AT HMV Ireland plunged by almost 90 per cent to €465,000 last year compared to €4.1 million the previous year.
Accounts filed for the Irish operations of the music giant for the year to the end of April 2010 show that operating profit stood at €400,000, down from €2.8 million the previous year.
The sharp drop occurred despite a 23.3 per cent increase in sales. Revenues climbed from €69.8 million in 2009 to €85.9 million last year.
However, that increase in sales may reflect the fact that HMV opened two new stores in Ireland during the period covered by the accounts."
Accounts filed for the Irish operations of the music giant for the year to the end of April 2010 show that operating profit stood at €400,000, down from €2.8 million the previous year.
The sharp drop occurred despite a 23.3 per cent increase in sales. Revenues climbed from €69.8 million in 2009 to €85.9 million last year.
However, that increase in sales may reflect the fact that HMV opened two new stores in Ireland during the period covered by the accounts."
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