Thursday 18 January 2018

Profits at Irish arm of Zara double to €6.2m

A pedestrian passes the window display of a Zara fashion store
A pedestrian passes the window display of a Zara fashion store

Gordon Deegan

Pre-tax profits at the main Irish arm of international clothing giant Zara more than doubled last year to €6.2m.

New accounts show profits soared 146pc to €6.2m in the 12 months to Janaury 31, from €2.52m in the previous period.

Sales at the Spanish-owned Za Clothing Ireland jumped 14pc to €57m over the same period.

Numbers employed by the firm last year increased from 310 to 316, with staff costs declining marginally from €9.6m to €9.5m.

The profit takes account of non-cash depreciation costs totalling €3.4m, with operating leases on property totalling €5.79m.

The figures show that the firm's shareholder funds totalled €17.8m that included cash increasing from €995,000 to €2.1m.

The figures show that the firm's gross profit increased from €27.9m to €31.8m.

Selling and distribution costs last year totalled €24.67m.

Irish Independent

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