Losses at Harvey Norman’s Irish businesses narrowed to €25.6 million this year, the electrical and household retailer said yesterday.

The company is creating 18 new jobs in its Irish division – 14 in its store in Blanchardstown, Dublin, and four in launching its online brand here.

The Australian group announced that global profits fell 32 per cent to €141 million (A$172.50 million) as sales of TVs and computers slumped in the 12 months up to June 30th. The group announced that, over the same period, sales in its Republic of Ireland stores rose 6.3 per cent to €135 million. Revenue in Northern Ireland increased 2 per cent to €10.6 million.

Harvey Norman’s losses in Ireland fell 7 per cent to €25.6 million from €27.5 million. Blaine Callard, chief executive of Harvey Norman Ireland said: “More sales, bigger market shares, an increased trading profit and a continuing steady decline in losses reflects our work in the last couple of years.”