Business Irish

Sunday 22 October 2017

Profits surge to €4.6m at Hickey's Pharmacy

Hickey's Pharmacy on O'Connell Street, Dublin. Photo: Arthur Carron/Collins
Hickey's Pharmacy on O'Connell Street, Dublin. Photo: Arthur Carron/Collins

Gordon Deegan

Pre-tax profits at Hickey's Pharmacy - which is part one of the largest independently-owned pharmacy retail groups in the country - last year increased by 32pc to €4.6m.

New accounts filed by Hickey's Pharmacy Ltd show that the business recorded the jump in profits as revenues increased by 7.5pc, going from €23.59m to €25.38m in the 12 months to the end of February 29 last.

Those revenues are contained in accounts by Hickey's Pharmacy but the group's earnings are contained in Drishlawn and in 2014 the business put the results off limits to public scrutiny when the directors changed Drishlawn's status to unlimited thereby removing the need for the firm to file annual accounts.

The group operates 17 stores in Dublin alone and also operates stores in Meath (four), Louth (three), Kildare (two) and ones in Cork and Wexford.

The last disclosed revenues for Drishlawn totalled €46.3m in 2013. The accounts show that the operating profits enjoyed by Hickey's last year increased by 29pc from €4m to €5.28m.

Irish Independent

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