Febvre reduces pre-tax losses

Pre-tax losses were reduced at wine importers Febvre & Co from €1.2 million to just €1 million in 2010 on a turnover down three per cent from €46.2 million in 2009 to €44.9 million, according to the latest set of accounts lodged with the Companies Office.

However operating losses were up 70 per cent to €752,028  from €442,265 the previous year despite a reduction in staff costs from €7.1 million to €6.8 million.

Irish turnover accounted for €25.1 million, down 1.5 per cent from the 2009 figure of €25.5 million while turnover in Febvre’s operations in the rest of Europe was down 4.7 per cent from €20.7 million to €19.8 million.