The link-up by Fran O’Gorman’s Sundrelle with beauty entrepreneurs, Marissa Carter and Suzanne Jackson has helped boost sales for the Co Meath businessman.
Accounts for the O’Gorman family-owned Sundrelle Ltd show that in 2018, revenues increased 8% to €31.2m, but pre-tax profits dropped 54% to €1.4m.
Sundrelle is a large pharmacy products wholesale distributor and the company distributes beauty brands, including tanning range Cocoa Brown which is owned by Ms Carter, and a range of products by fashion blogger Ms Jackson.
The chief factor behind the decline in profit was the pay to four directors for Sundrelle which soared 67% to €3.6m in the year. Mr O’Gorman, Elizabeth O’Gorman, Donal O’Gorman, and Thomas Nolan were board members in 2018.
Underlining the positive impact of the link-up with Ms Jackson, Sundrelle purchased goods worth €8.3m from San Fran Ltd, which is co-owned by Ms Jackson and Mr O’Gorman, in 2018.
Sundrelle directors said in the accounts they were satisfied with the performance of the company in 2018. “The corporate strategy for the coming year is to increase stakeholder value through enhancing market share and developing the company’s customer base,” they said.
Staff numbers increased from 74 to 94 in the year, while staff costs, boosted by the rise in pay for directors, climbed from €5.2m to €7m. It had accumulated profits of over €25.7m at the end of 2018, and a cash pile of €17.5m.