Wednesday 16 August 2017

Harvey Norman and landmark pub both toast strong figures

Harvey Norman returned to profit last year after breaking several sales records during Christmas 2015. Photo: Ian Waldie/Bloomberg News.
Harvey Norman returned to profit last year after breaking several sales records during Christmas 2015. Photo: Ian Waldie/Bloomberg News.

Gordon Deegan

Two of the best-known brands here, Harvey Norman and O'Donoghue's pub, recorded strong performances last year, according to new accounts.

Australian-owned Harvey Norman returned to profit last year after breaking several sales records during Christmas 2015.

New accounts filed for the year to the end of last June show that Harvey Norman Trading (Ireland) Ltd recorded an operating profit of €203,799.

This followed operating losses of €5.7m in 2015; €6.9m in 2014; and €5.18m in 2013.

The retailer recorded the return to operating profit after revenues increased by 13pc, from €158m to €178m.

The business recorded a pre-tax loss of €1.2m as a result of interest charges of €1.4m.

According to the directors' report, "the growth in sales and market share in 2016 has not come through discounting or at the expense of margins".

The report states that "post year end, the group acquired a site for a new store at Tallaght". The new store will be its fifth in Dublin.

Numbers employed last year rose from 757 to 860.

O'Donoghue's in Dublin is one of Ireland's best-known and storied pubs, and accounts just filed by O'Donoghues (Merrion Row) Ltd show that accumulated profits last year rose from €537,952 to €705,450. The firm's cash pile stood at €1.49m.

The pub is owned by the Barden family and Carol Barden said yesterday: "We were happy to record steady growth last year and with visitor numbers looking strong for this year, we are hopeful we can maintain this.

"Despite the many new attractions Dublin has to offer, the appeal of the traditional Irish bar is still as strong as ever."

Irish Independent

Also in Business