Winemark has reported a 75% slump in full-year pre-tax profits.

The Northern Irish independent off-licence chain said profits fell from £1.7m to £468,493 in the year to 31 December 2013, in accounts filed at Companies House. Turnover slipped 2.8% to £19m during the year.

The fall in profits comes a year after Winemark reported an 81.2% increase in profits for the year to 31 December 2012. In the accounts, the directors said that while they expected a “difficult” year, they would “continue to seek every opportunity to increase profitability.”

Winemark is 43 on The Grocer’s ranking of the UK’s Top 50 independent grocery retailers.

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