Bumper sales of Limerick GAA jerseys weren’t sufficient to stop a slip in pre-tax profits to €four.98 million at Lifestyle Sports final 12 months.
New accounts filed by Lifestyle Sports (Ireland) Ltd present that the enterprise recorded the 1 per cent drop in pre-tax from €5 million to €four.98 million as revenues elevated by four per cent from €103 million to €107.5 million within the 12 months to the top of September final.
Increased sales of Limerick jerseys in consequence of the county’s All-Ireland success final summer time contributed to the rise in revenues.
The retail group operates 54 shops within the North and South and the figures for Lifestyle Sports (Ireland) Ltd relate solely to the agency’s Republic enterprise the place 50 shops are situated.
Numbers employed by the group final 12 months totalled 484 and workers prices final 12 months totalled €13.7 million.
The pre-tax revenue final 12 months takes account of €203,485 in retailer closure and restructuring prices and this follows prices of €1 million below the identical heading in 2017.
The administrators state that the agency’s earnings earlier than curiosity, tax, depreciation and amortisation and one-off distinctive objects totalled €9.27 million in contrast with €10.23 million the earlier 12 months.
Accumulated profits on the agency final September totalled €30.37 million. The agency’s money pile decreased from €11.eight million to €6.2 million.
The Lifestyle retail enterprise is owned and operated by the Wicklow-based Stafford household owned group and the Lifestyle arm is dealing with elevated competitors right here as UK agency Sports Direct continues with its main growth plans for Ireland.
Separate accounts for Stafford Holdings present that the homeowners obtained a money dividend of €four.2 million throughout the 12 months. The precept exercise of the holding agency is sports activities retailing and administration providers and its revenues North and South final 12 months totalled €114 million.
The revenue on the Lifestyle firm final 12 months takes account of non-cash depreciation prices of €2.6 million, amortisation prices of €1.34 million whereas working lease prices elevated from €9.6 million to €10.9 million.
Directors pay on the Lifestyle Sports agency final 12 months elevated from €220,080 to €256,686.
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