LONDON (ShareCast) - Retail outlet operator Instore (LSE: INST.L - news) said full year pre-tax losses widened to £10.5m from
a loss of £7.4m and said the present trading environment continues to be extremely challenging.
The group said revenue fell to £295.8m for the year ended 28 February compared with £296.8m before. Pre-tax loss and exceptional items widened to £5.8m compared with £2.2m.
"The present trading environment is extremely challenging," the group said in a statement.
"Although there are indications that the value sector has benefited to some extent from the current recession, any such trend will inevitably mean that the sector will become even more competitive. This makes the current year of exceptional importance in re-establishing further the credentials of the Poundstretcher brand in order to secure the longer term future of the business," it added.
No dividend payment will be recommended for the period.
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