Wedded bliss for Franc as couples splash out more on their big day
Published 27/01/2016 | 02:30
An increase in the average spend by Irish couples on their weddings boosted the firm operated by the country's best known wedding planner, Franc.
New figures show that the events firm, Weddings by Franc, led by Fermoy man, Peter Kelly aka Franc, saw more than a four-fold increase in profits to €52,142 last year.
Accumulated profits rose from €116,512 to €168,654 in the 12 months to the end of June last.
A recent survey by wedding website weddingsonline.ie found that the average total budget for an Irish wedding last year, including honeymoon, increased by 6pc to €22,531.
The Weddings by Franc profit of €52,142 was a 340pc increase on the €11,857 recorded in 2014. The cash pile at his firm increased from €21,146 to €114,735.
The two years of profits at the firm in 2015 and 2014 follow accumulated profits plunging at the firm by 71pc, from €358,810 to €104,655, in the 2013 period.
The latest figures from the Central Statistics Office (CSO) show a 6.6pc increase in the number of weddings to 22,045 in 2014.
Weddings by Franc is owned on a 50/50 basis between Mr Kelly and his wife, Eadaoin Morrish, and the two are directors in the firm.
Numbers employed, that takes account of the two directors, increased from six to seven with staff costs increasing from €155,312 to €188,585.
The joint pay to Franc and Ms Morrish increased marginally to €106,816 made up of pay of €89,927 and pension payments of €16,889.