Salon operator Regis UK, which operates hundreds of salons across the UK under the Regis, Supercuts and Sassoon brands, has predicted it could return to profitability this year after a "significant improvement" in performance.
In recent years, the company has been impacted by costs associated to closures in recent years as part of its bid to accelerate back into the black.
Newly filed accounts for the year to 28 June 2014 revealed that Regis significantly slowed its closure programme on the previous year, when it disposed of 59 stores.
During the period, it opened 23 new salons, boosting its estate by nine branches after the closure of nine Regis and four Supercuts sites.
As a result, pre-tax losses narrowed to £1.8m from £2.6m in 2013, while sales declined moderately to £73.5m from £76.9m.
In a statement accompanying the results, Regis directors said they will continue with their approach to portfolio management by closing sites that are no longer viable.
"The last two years have been significantly impacted by the closure programme and associated costs," the statement added.
"But as we trade through the new year the operating performance of the business has been significantly improved as we look to return to profit in the year to June 2015."
The company also said it expects its online retail presence to grow in the coming years as it refines its internet offering.
During the year, Regis operated 270 salons, three hairdressing schools and 82 concessions.
Regis UK Ltd is part of Regis Corporation, a $1.89bn (£1.25bn) turnover company headquartered in the US and listed on the New York Stock Exchange.
Regis Corporation can trace its roots back to 1922 and first established a presence in the UK in 1990.