Pretax profits at the UK arm of Irish-owned retail giant Dunnes Stores last year increased by 29 per cent to £15.9 million (€18.5m). According to returns just lodged by Dunnes Stores (Bangor) Ltd to Companies House in the UK, the firm enjoyed the profit upswing in spite of revenues decreasing by 5 per cent from £166.3 million to £157.5 million in the 12 months to the end of February 2nd, 2013.

The main factor behind the increase in pretax profits from £12.37million to £15.94 million was the firm’s cost of sales decreasing by 9.5 per cent from £107.5 million to £97.2 million.

The Newry-registered firm's revenues are generated in the UK and the North, with it operating 23 stores in the North, six in England and five in Scotland.