Storm clouds: Weather hits Pamela Scott firm
Storm Emma and severe weather conditions in the first quarter of last year contributed to Pamela Scott firm, Flairline Fashions, going into the red in 2018.
New accounts lodged by Flairline Fashions Ltd show that the firm recorded pre-tax losses of €253,311 in the 12 months to the end of August last. The group recorded the pre-tax loss after revenues dipped marginally from €20.53m to €20.36m last year.
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The directors stated: "The group's turnover fell slightly and was impacted by the severe weather conditions in the first quarter of 2018, which negated the profitable trading of the new stores."
During the financial year, the group closed an under-performing store and opened two new stores.
They added: "Including the two stores that were opened near the end of the previous financial year-end, the four new stores performed well during the financial year."
The report said that the directors were satisfied with the progress made to date on the implementation of a five-year plan, now into year three, to return the group to profitability and to reduce the shareholders' loan. Numbers employed increased from 193 to 207, with staff costs rising to €4.59m.