By Paul Hayes

DUBLIN, IRELAND: The Irish arm of Harvey Norman has reported a loss of €40 million, but the chief executive of the Australian retail giant’s Irish operations has said that the company will maintain its place in the Emerald Isle, according to a report in the Irish Times.

“Harvey Norman is a long-term player in the Irish market,” said Blaine Callard.

“We are not going anywhere.”

The report said that the €40 million loss for the year ended June 2009 is a ninefold increase from the same period the previous year when the company posted a €4.3 million loss.

In addition, total turnover for Harvey Norman’s 14 stores throughout Ireland was reportedly down marginally to €136 million from €137 million a year earlier.