West Country mixed merchandiser reports a shrink in sales
Trago Mills has reported declining sales and profits for 2003.

The privately owned retailer has three retail complexes in the South West of England, comprised of their own retail outlet, selling shoes to DIY and independent retailers as well as restaurants and leisure activities.

Turnover for the year ending 31 December 2003 wasÂŁ29.5 million down fromÂŁ33.5 million the preceding year, achieving profits before taxation ofÂŁ1.8 million compared toÂŁ2.1 million for the same period the previous year.

The wage bill was upÂŁ75,348 from the year before atÂŁ847,505 while staff remained constant. Directors' remuneration was upÂŁ87,662 up atÂŁ376,205. The top paid director tookÂŁ171,910.

Falling outside the results period, one of larger outlets at Newton Abbot was hit devastating fire last month, which started in an ice-cream parlour. The company has been selling off fire-damage stock, attracting crowds of bargain hunters.