Barry Group weathers downturn as sales increase by 6% to €201m

THE Barry Group has pushed sales in Ireland up by €11.68 million – a 6.2% increase – to €201.02m in the year to the end of January, according to accounts to be filed with the Companies Office this week.

When sales to Britain and the rest of the world are added in, the company reports an increase of sales to €212.5m in the financial year to January 31, 2009, up 4% on 2008 figure of €204.54m.

Group profit before tax rose to €2.67m from €2.55m a year earlier, profit after tax was €2.47m.

James A Barry & Company Limited, trading as The Barry Group, headquartered in Upper Quartertown Mallow where it has its main wholesale operation, supplies products to over 700 stores including 230 affiliated stores in the Republic of Ireland operating under the Costcutter and Quikpick brands.

The Mallow-based cash and carry company this year also started taking on discount retailers such as Lidl and Aldi with cut price offerings at a new discount chain Buy Lo with one outlet in Tralee and others planned.

Group managing director and sole shareholder Jim Barry said they are delighted once more to report an increase in both turnover and profit before tax.

“Despite current challenging market conditions, the board of the Barry Group is confident that we are well positioned to build on our success in the coming years through our ability to offer value to our customers,” he said.

The accounts show the company had 218 employees at the beginning of the year, one less than the prior year.

However, employment costs, including wages, pensions and social welfare contributions, increased to €10.27m from €8.7m a year earlier. The bulk of the increase was wages.

Directors’ remuneration and pension contributions went from €773,540 to €1.02m.

Dividends paid to shareholders during the year came to €343,863 from €112,500 in 2008.