Business Irish

Tuesday 12 December 2017

Cash pile at Weddings by Franc diminishes as profits slide 17pc

Gordon Deegan

THE cash pile at events company Weddings by Franc plunged 64pc last year, new figures show.

Abridged accounts filed by the Peter Kelly-controlled firm show the cash pile shrank to €146,111 from €412,547 the previous year.

Accumulated profits in the 12 months to the end of June last year slid 17pc to €563,369.

The wedding designer and planner Peter Kelly is currently attracting 380,000 viewers through his primetime RTE series called 'Franc's DIY Brides'.

The drop in accumulated profits at Weddings by Franc continued the trend of fiscal 2010 when accumulated profits dropped by 16pc to €684,654.

As Weddings by Franc is a small company, it it not required to show its revenues for the year or whether it recorded a profit or loss during the period.

The figures do show that while the company's cash-pile declined last year, Weddings by Franc's debtors increased from €119,097 to €301,194.

The filings also show that the company did not pay any corporation tax last year. Its shareholder funds totalled €563,469.

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