Business Irish

Friday 23 February 2018

Profits soar for Costelloe to €312k

Paul Costello
Paul Costello

Gordon Deegan

Accumulated profits at the design management firm owned by renowned designer Paul Costelloe soared to €312,806 in 2015, accounts show.

According to accounts filed with the Companies Office by Paul Costelloe Design Management Ltd, the firm's accumulated profits jumped by €127,660 from €185,146 to €312,806 in the 12 months to the end of August 2015.

During the same period, the firm's cash pile more than doubled - going from €198,265 to €441,201.

In a bumper year, pay to the firm's three directors, Mr Costelloe, Ann Costelloe and Gerald Mescal increased sharply - going from €258,712 to €456,264.

The figures show that the Co Meath registered firm paid out €581,618 to four members of staff, with two engaged in management and two in advertising and promotion.

Mr Costelloe has been a feature on the Irish design landscape for decades, but was criticised on social media at the weekend over his comments on The Late Late Show concerning a number of women.

Mr Costelloe's career highs include designing a uniform for British Airways staff in 1992 that remained in service for a record 12 years; designing the Irish Olympic team uniform for the 2004 Athens Olympics and designing the uniforms for the wives of the European Ryder Cup team from 2006 to 2011.

He has also benefited from his link up with Dunnes Stores with his Paul Costelloe Living range.

Mr Costelloe recently revealed how he first worked as a Bible salesman before going on to become a fashion designer.

Irish Independent

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