Irish retail group Arnotts said today its full trading year has been successful, with sales rising 15.7 per cent to euro 175.1 million.
In the full year, pretax profits rose to euro 15.65 million from 14.23 million a year earlier, and earnings per ordinary share were up at 67.5 cents from 59.2 cents last year.
The retailer noted that revaluation of all group properties has resulted in a surplus of euro 33.65 million which reflects an underlying increase of 23 per cent in property values during the period February 1st 2000 and January 31st 2001.
Arnotts said its plans for the introduction of the euro are well advanced and it is confident that all its systems and processes will be in place and operating prior to January 1st 2002, and added it is continuing to develop its plans on the business-to-business side of the internet.