The Irish arm of sports retail giant Lifestyle Sports fell into the red in 2022, the group’s accounts show.
It made a loss of €313,000 in the year compared with a profit of €6.7 million the previous year. Nonetheless, the directors of Lifestyle Sports Ireland described the numbers for the year ended September 24th, 2022, as “satisfactory”.
The company’s turnover decreased from €116 million to €104 million over the 12 month period, which represented a decrease of 10 per cent.
Earnings before interest, tax, depreciation, amortisation and exceptional items came to €7 million compared to €12 million the prior year.
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There were no dividends declared or paid during the financial year. The company said it had net assets of €45 million at the end of the year, which was unchanged from a year earlier.
Lifestyle Sports Ireland employed an average of 426 people throughout the year. That number was up from an average of 379 the year before.
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