Franc hit as couples say 'I don't' to big weddings
The new appetite for frugal weddings seems to have hit profits at Weddings by Franc, where accumulated profits fell by more than €200,000 during the event company's last financial year.
Accounts filed by the Peter Kelly co-owned Cork-based firm show that accumulated profits tumbled from €563,369 to €358,810 in the 12 months to the end of June.
The cash pile at Weddings by Franc also fell sharply – going down from €146,111 to €18,717. This followed a sharp decrease in 2011 when the wedding planner's firm's cash pile fell from €301,194 to €146,111.
The television wedding designer and planner, Mr Kelly, or Franc, is well known across the country with his most recent show on RTE, 'Franc's DIY Brides', attracting more than 380,000 viewers.
The drop in accumulated profits at Weddings by Franc continued the trend of fiscal 2011 when accumulated profits dropped from €684,654 to €563,369.
Franc's business includes the House of Franc at its headquarters at Glanworth Hill in Co Cork that houses the revamped House of Franc boutique shop and tea rooms.
The firm is owned on a 50/50 basis between Mr Kelly and his wife Eadaoin Morrish.
Franc's profile has continued to increase in recent years with the Cork man employed as the creative designer for the visit of Queen Elizabeth II to Cork city in 2011. The figures show that while the company's cash pile declined last year, the firm's debtors increased from €92,563 to €203,934.
Franc was also creative designer for the opening event in City Hall for Cork European capital of culture, while Franc launched his own wedding magazine, 'Franc Wedding Secrets', in 2009.
Franc has worked in hospitality events for over 20 years.
He could not be reached for comment yesterday.