Profits at uniform firm lose a little shine
Published 19/04/2016 | 02:30
Pre-tax profits at the uniform supply firm that counts the Gardai and the Irish Prison Service among its major customers declined by 34pc to €545,826 in 2014.
Figures lodged by James Boylan Safety (JBS) Ltd with the Companies Office show that the firm's pre-tax profits declined by €278,198 to €545,826 in spite of its gross profit increasing by 41pc going from €3.4m to €4.79m in the 12 months to the end of December 31 2014.
Established in 1944, the JBS Group is a market leader in the supply of safety, uniform, hygiene and specialist products and services to 300 companies in both the public and private sector in Ireland.
The group operates from bases in Cork, Belfast, Derry, Dublin and its HQ in Monaghan to ensure customer proximity, and the group has over 60,000 sq ft of state of the art high-bay warehousing.
The figures show that accumulated profits at the company topped €6.3m at the end of December 2014.
Purchase orders for 2014 show that the Gardai purchased €1.77m of goods from JBS Ltd, while the Irish Prison Service purchased over €740,000 worth of goods.
The contract for the Gardai is the largest uniform contract in Ireland - over 300,000 garments.
At the end of 2014, JBS's cash pile had reduced from €793,403 to €275,029.
Numbers employed increased from 33 to 37.
Staff costs increased from €1.14m to €1.29m.
Remuneration to directors totalled €159,994. During 2014, the firm doubled the amount it made in charitable donations to €101,739.
The firm's distribution costs totalled €304,839 with administration expenses increasing sharply to €3.93m.