Profits up 60pc at Topshop Irish arm
Pre-tax profits at the Irish arm of Cristina Green's retail firm Top Shop/Top Man last year increased by 60pc to £2.955m (€3.3m).
This follows revenues at Top Shop/Top Man (Ireland) Ltd increasing by 2pc from £25.58m to €26.1m in the 12 months to the end of August last as the brands benefit from the boom in the Irish economy.
The profits take account of an exceptional non-cash £106,000 charge in connection with future lease obligations of the firm's loss-making stores.
Numbers employed by the company last year decreased from 378 to 362 with staff costs increasing from £4.85m to £5.17m.
Topshop now sells in 620 shops across some 35 countries and accumulated profits at the Irish arm of the business last year increased - going from £2m to £4.5m
Ms Green and her husband, Philip Green have overseen the growth of the clothing brands and figures from a separate Green Irish firm which operates the Burton, Dorothy Perkins and Evans brand names show that the company returned to profit last year to record pre-tax profits of €1.84m.
Accounts for Arcadia Group Multiples (Ireland) Ltd show that the company returned to profit as revenues increased by 10.7pc going from £18.3m to £20.26m.
The profit takes account of an exceptional non-cash income of £420,000
Numbers employed at the company last year decreased from 370 to 356 with staff costs increasing from £4.6m to £5.5m.
Accumulated profits at the company increased from £9m to £12.37m.
Accounts for a separate Green firm, Miss Selfridge Retail (Ireland) Ltd show that it also reduced its pre-tax losses last year from £392,000 to £89,000. This followed revenues increasing by 11pc going from £4.29m to £4.774m. In common with some other Green-controlled firms, the Miss Selfridge firm last year incurred a non-cash exceptional expense of £51,000 against the future leasing obligations of its loss-making stores and also the impairment of tangible assets.
Numbers employed by the company last year increased from 95 to 108 with staff costs increasing from £1m to £1.29m.
The most recent accounts for the UK arm of Topshop/Topman show that pre-tax profits at the business last year plummeted going from £84.56m to £909,000.
Underlining the size of the operation in the UK, revenues at Topshop/Topman UK last year totalled £933m - a drop on the revenues of £990m recorded in fiscal 2016.
Philip Green's wealth is currently estimated to be around £2bn.