One-off item fails to aid retailer

Home furnishings retailer Pricerite has recorded a net loss for the year to March 31 of $15.79 million compared with a profit last year of $5.49 million. Losses per share amounted to 7.9 cents compared with a 2.7 cent gain last year. The poor showing came despite an exceptional gain of $1.35 million resulting from the forfeiture of a deposit received after a buyer defaulted on the purchase of one of Pricerite's associated firms.