Monday 18 December 2017

Green in the black with two Irish labels

Christina Green and husband Philip own a clothing empire that includes Topshop and Burton
Christina Green and husband Philip own a clothing empire that includes Topshop and Burton

Gordon Deegan

Pre-tax profits at the Irish arm of Christina Green's retail firm, Topshop and Topman, increased more than six-fold last year to £1.84m (€2m).

Revenues at Topshop/Topman (Ireland) had risen by 9pc from £23.42m to £25.58m in the 12 months to the end of August 2016.

The profits take account of an exceptional, non-cash £390,000 charge in connection with future lease obligations of the firm's loss-making stores and impairment of tangible assets.

Numbers employed by the company last year increased from 361 to 378 with staff costs up from £4.6m to £4.85m.

Ms Green and her husband Philip have overseen the growth of the clothing brands. Figures from a separate Green Irish firm - which operates the Burton, Dorothy Perkins and Evans brand names - reveal that pre-tax losses fell sharply from £1.8m to £535,000 last year.

Accounts for Arcadia Group Multiples (Ireland) show that the drop in losses came about as the company's revenues increased marginally, up from £17.66m to £18.3m.

The loss takes account of an exceptional non-cash cost of £833,000 against the future lease obligations of its loss-making stores and also impairment of tangible assets.

Numbers employed at the company last year increased from 360 to 370, with staff costs falling slightly from £4.6m to £4.5m.

Accounts for a separate Green firm, Wallis Retail (Ireland), show that it also reduced its pre-tax losses in 2016, from £419,000 to £283,000.

This followed revenues marginally increasing to £9.97m.

Irish Independent

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