Sunday 22 April 2018

Wedding planner Franc has honeymoon period of profit

Accumulated profits rose to more than €200,000 last year at the company of wedding guru Franc, aka Peter Kelly
Accumulated profits rose to more than €200,000 last year at the company of wedding guru Franc, aka Peter Kelly

Gordon Deegan

It was 'wedded bliss'  last year for Ireland's best known wedding planner, Franc, as accumulated profits at his firm jumped to over €205,000.

New accounts filed by Weddings by Franc Ltd show that accumulated profits rose from €160,607 to €205,949 in the 12 months to the end of June last.

The jump in profits compares to a slight reduction in accumulated profits in 2016 and the investment in the business in 2016 paid off last year with the jump in profits.

In 2016, the company invested in additional resources "to capitalise on current opportunities to expand the business and increase future revenue streams for the company".

Franc, aka Peter Kelly, has recently been on our TV screens presenting the Irish version of 'Say Yes to the Dress' on RTE.

The accounts state that along with wedding planning, the company is involved in event designing from its operations base in Fermoy, Co Cork.

The company produced the impressive performance in spite of the number of marriages falling in Ireland last year.

Recent figures from the Central Statistics Office (CSO) show that the number of opposite-sex marriages slipped from 21,570 to 21,262 while the number of same sex-marriages declined from 1,056 to 759.

Numbers employed by the firm increased from eight to 10 with staff costs increasing from €101,629 to €147,494.

Weddings at Franc Ltd is owned on a 50/50 basis between Mr Kelly and his wife, Eadaoin Morrish, and the two are directors in the firm.

Directors' pay last year totalled €102,102.

The company's cash pile increased from €55,180 to €82,911 while the amount owed to the company by debtors more than doubled, going from €108,673 to €264,078.

Irish Independent

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