The Dizz Group of Companies has reported a loss of €3.3m for 2020 as a result of lower revenue from its fashion division and administrative and tax costs.
It said the loss was a material variance of some €3.1m from the 2020 projections issued on 14 July 2020 which had projected a loss of €203,000.
The group said it had an adverse variance of €4.7m due to a decrease in the selling prices charged by the fashion division to attract more sales.
This was offset by a significant positive material variance of €3.1m relating to other income, primarily consisting of rental income from investment property and the granting of the COVID-19 wage and rent supplements and other income derived from the diversification efforts of the Group.