Retail group Arnotts is considering expansion into Dublin's suburbs as part of its expansion strategy, chief executive Mr Seamas Duignan has stated.

Mr Duignan was speaking after Arnotts reported a 14 per cent rise in pre-tax profits to €17.9 million for the year to the end of January. The figure was distorted, however, by a sharp rise in profits from the 50 per cent-owned Brinks-Allied security business as a result of the changeover to the euro.

Total turnover at Arnotts jumped to €193 million from €175 million. Earnings per share were 22 per cent higher on 82.6 cents while shareholders are receiving a 17 per cent increase in the dividend to 32 cents per share.