Profits soar to €1.5m at Kilkenny Group
Published 24/02/2016 | 02:30
Pre-tax profits at the Kilkenny Group almost doubled to €1.5m last year.
New accounts filed by the group's Clydaville Investments Ltd with the Companies Office show that revenues increased from €25.5m to €27.8m in the 12 months to the end of February 1, 2015.
According to the directors' report, "in light of the continuing difficult economic climate prevailing, the directors are very satisfied with the operating results which show an increase in sales and profitability and net funds".
They add: "Going forward in this trading environment, the directors will continue to try to maintain and increase the company's sales and look for future potential growth opportunities while also reducing costs."
Numbers employed by the group increased from 226 to 249 and last year's results represented the group's fifth consecutive year in generating record revenues. The business is owned by the Blarney-based O'Gorman family.
The group - which is headquartered in Killarney - boasts a portfolio of 13 stores around Ireland, including 11 'Kilkenny' shops and two sister 'Christy's' stores, as well as two award-winning in-store cases and a thriving online outlet, kilkennyshop.com.
On the group's future developments, the directors state that they will continue to review opportunities to grow and expand the business.
The group stocks around 450 brands with Irish brands accounting for 80pc of those brands.
The group's shareholder funds stood at €10.62m.