Thursday 22 March 2018

'Gone Girl' volumes help bookseller to return to profit

Hollywood stars Ben Affleck and Rosamund Pike in the movie adaptation of best-selling book ‘Gone Girl’
Hollywood stars Ben Affleck and Rosamund Pike in the movie adaptation of best-selling book ‘Gone Girl’

Gordon Deegan

International best-selling thriller 'Gone Girl' by Gillian Flynn last year helped one of the largest independent booksellers in the country, O'Mahony's Booksellers, to return to profit after two years of hefty losses.

New accounts show that O'Mahony's Booksellers Ltd recorded pre-tax profits of €78,518 after recording pre-tax losses of €231,924 in 2014 and €162,917 in 2013.

O'Mahony's operates four bookstores in the midwest and south-west and the firm's gross profit last year declined marginally to €2.882m from €2.883m in the 12 months to the end of February 28 last.

The firm saw a 5pc-10pc rise in sales during the 2014 Christmas period.

The firm benefited from a stabilisation in the market in 2014 with data analysis firm Nielsen showing that the value of the Irish book market in 2014 was €106.4m, representing a 0.2pc rise in value and a 0.6pc decline on 2013. This followed 2013 figures that showed a 14pc drop in the value of the market and a 15.8pc drop in volume.

The firm recorded operating profits of €106,215 compared to an operating loss of €215,889 in fiscal 2014. The figures show that €10,000 written off in investments and €17,697 in interest payable reduced the firm's profits last year.

On the firm's going concern status, a note attached to the accounts states that the directors are satisfied, having reviewed the trading results of the business since year end, February 28 2015, that it is appropriate for the accounts to be prepared on the going concern basis.

Numbers employed fell from 74 to 72 with staff costs reducing from €2m to €1.9m. Remuneration for directors Frank, David and Peter O'Mahony increased marginally from €213,463 to €214,263.

David O'Mahony resigned in December 2014 and was replaced by Peter O'Mahony.

Irish Independent

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