Louis Copeland store sitting on profits of €3.6m
Published 16/05/2011 | 07:37
LOUIS Copeland's flagship Capel Street store in Dublin is sitting on retained profits of more than €3m, according to accounts just filed.
The Irish-owned chain is famous for dressing a host of showbusiness, sport and political personalities, ranging from Jedward, for Eurovision, to Westlife, Brian O'Driscoll and Bertie Ahern.
Each of the six Louis Copeland shops keeps separate company accounts, but the outlet on Capel Street is the biggest and longest established.
Abridged company accounts for the year to the end of June 2010 show that the branch was sitting on profits of €3.6m, down from €5.19m the previous year.
Accounts filed last year for the Pembroke Street outlet, also in Dublin, noted at the time that there was "material uncertainty" over the store's ability to continue trading, without "cost-control measures".
That was despite improved results that had seen a 2008 loss transformed into a profit.
Earlier this year, the group's Galway store reported retained profits of €182,000. In a note to accounts for that store, the directors said they had implemented cost-control measures to tackle the consequences of the economic downturn to keep overheads to a minimum.
They said the measures taken, combined with supportive bank lenders, had ensured the shop's future viability.