Fashion firm cuts losses, raises turnover

THE fashion company that runs the upmarket Pamela Scott brand curbed losses significantly last year.

Accounts just filed for Flairline Fashions Limited show pre-tax loss fell substantially from €1.3 million to €135,265 in the year to the end of August 2010. Turnover increased from €8.8m to €9.9m.

The accounts said that despite the “challenging economic environment” the company achieved a satisfactory trading performance for the year under review. The loss is before taking into account the non-recovery of an inter group debtor worth €386,249.

The risks facing the company include a reduction in the business levels of the company’s wholly owned subsidiaries due to the downturn and decreasing levels of consumer spending, reduction in the market values of investment properties and increasing price competitiveness within the industry.

“Such risks are managed by ongoing promotion of the company’s products and tight cost control,” the accounts read.

The directors said they intend to continue to promote the business and evaluate opportunities.

Full-time staff numbers fell from 34 to 31 last year with staff costs falling from €1.2m to €1.1m. Directors’ salaries and fees fell from €279,724 to €264,505.

Flairline Fashions is owned by 73-year-old Sean Barron and his family. Mr Barron founded Flairline Fashions in the 1970s and has built the company into one of Ireland’s most successful retail chains.

He started off with the t Pamela Scott brand before buying the three Richard Alan stores. He also owns Ireland’s first Escada outlet.

His son, Scott, who is also involved with the company, played in the Davis Cup for Ireland for more than a decade from 1990. He became a professional tennis player when he left school in 1991, and represented Ireland at the Olympic Games in Atlanta in 1996. He retired from the game in 2000.