Irish owned home entertainment retailer Golden Discs said its turnover for 2020 declined to €10.5m from €13.2m in 2019 as Covid lockdowns hit its sales during the year.
The company said it introduced cost reduction measures and operational efficiencies last year, which helped it sustain the profitability of the business.
The company, which has 23 stores around the country, reported a net profit of €160,196 for the year.
It also availed of Covid related supports such as the EWSS scheme, which helped the business during the challenges of Covid and contributed to continued employment for the company's 200 staff.
Golden Discs said it continued to trade through its online business which experienced significant growth during the year as consumers embraced shopping from home.
The company's chief executive Stephen Fitzgerald said that vinyl makes up an increasing large part of the company's sales mix, despite supply chain shortages and Brexit related complexities.
"Despite demand currently outstripping supply we anticipate continued growth for the category, and we've invested significant resources over the past year to increase our range and improve the customer experience," Mr Fitzgerald said.
The company opened a new 3,000 sq ft store on Galway's Eyre Square earlier this month, which is trading ahead of expectations.
Golden Discs said it is optimistic about its fourth quarter trading period on the back of a strong release schedule which includes new albums from Ed Sheeran, Abba and Adele and visual product such as the new Bond film.
