Wilko profits dented by property costs

Value retailer Wilko has gone into the red after posting a pre-tax operating loss of £65m in the year to 3 February.

It blamed the loss on exceptional store-related costs and currency forward contracts.

Wilko said in its latest filing with Companies House that exceptional items, including £21.3m in property costs and a £39.9m hit from currency forward contracts, were among the major factors behind its performance during the 12-month period.

However, like-for-like sales were up 3.7% on the previous year. EBITDA grew 2.7% to £50.2m, on the back of a 7.1% increase in turnover to