Sales rose by over €1m to €48.6m in the financial year to the end of February, despite cutting Irish outlets to 11 from 12. On a like-for-like basis, sales rose 13% from the previous year.
The retailer said a drop in expenses from €19.7m to €6.6m was largely because of the ending of the lease provision. Homebase had recorded a pre-tax loss of €2.4m in the previous year.
The company had 383 staff last year, down from 448. Employee costs were €7.6m.
Homebase said there were risks from "retail market conditions, competition, and consumer confidence in Ireland, especially in light of Brexit negotiations".
In late February 2016, Bunnings completed the acquisition of Homebase, the second largest home improvement and garden business operating in the United Kingdom and Ireland.
Homebase’s sales were £1.2 billion for the 12 months ended 29 August 2015. In February 2017 the first Bunnings Warehouse opened in St Albans with further pilot stores planned to open during the year. Latest sales figures were a £54m loss, posted for the year ending 30 June 2017.