Wednesday 18 January 2017

Zara eyes new stores as trading improves

Gordon Deegan

Published 31/08/2015 | 02:30

Zara's Irish business saw profits rise sharply
Zara's Irish business saw profits rise sharply

Pre-tax profits at the Irish arm of well known high street brand Zara last year increased by 33pc to €4.79m.

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This followed revenues at Za Clothing Ireland Ltd jumping by 10pc from €56.76m to €62.47m in the 12 months to the end of January 2015.

Zara operates a number of stores in Dublin, including one at the Dundrum shopping centre, along with stores in Cork, Limerick and Galway.

According to the directors' report, "the directors plan to open further stores as soon as opportunities arise".

Numbers employed by the firm last year increased by one to 316 with employment costs totalling €9.9m.

The company's cash last year increased sharply from €14.28m to €21.28m.

The profit last year takes account of non-cash depreciation costs of €1.7m.

The firm's operating lease rentals last year increased from €6.36m to €7.52m.

Shareholder funds last year topped €21.7m with accumulated profits more than doubling to €7.2m.

Pull and Bear Ltd is also owned by the Spanish-based Inditex and accounts filed show that pre-tax losses last year increased by 43pc from €596,000 to €852,000.

This followed revenues at the company decreasing by 10pc from €5.58m to €5.08m.

Irish Independent

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