Fields of Dublin owners’ profits rise by 19%

THE company that owns the Fields of Dublin chain of upmarket jewellery shops saw its profits rise by 19% to €4.1 million in 2002.

According to accounts filed just before Christmas at the companies office, Anthony Nicholas Limited, the holding company for the Fields stores, showed profits before exceptional items up from €3.4m to €4.1m.

After exceptionals, profits were €3.7m.

Turnover for the year to December 2002 rose from €28.8 million to €31.5m.

The company, which also manufactures its own jewellery, said that it had seen an increase in its Irish and overseas turnover.

Revenue generated in Ireland came to €23m with the remainder coming from Europe, America and Australia.

The Anthony Nicholas Group was founded in 1949 and is Ireland’s leading manufacturer and distributor of jewellery.

The company now has seven retail outlets, including its flagship store on Dublin’s Grafton Street other stores and in the major shopping centres in the city.

The accounts also show that Fields has been profitable for some time with retained profits of €11.6m, cash of nearly €4m in the bank and shareholders funds of €16.6m.

The company employs 223 people, up slightly on 2001, with the majority of those employed in sales.

The wages and salary bill for the year came to €6m.

The company is owned by Anthony and Nicholas Obernik and is also backed by the well-known stockbroker Kyran McLaughlin.

It has also emerged that Mary Finan, the chairman of public relations firm WHPR, resigned as a director of the company during the year.

Directors pay for the year was up from €853,118 to €977,169.

The other directors of the company are listed as Noel Murphy and Noel Coyne.

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