Avoca pre-tax profit increases 3%

PRE-TAX profits at family-owned retailer Avoca last year increased by 3% to €1.64 million as revenues climbed to €48.6m.

In accounts just filed by Avoca Handweavers Ltd and subsidiaries, they show that group revenues increased by 6% from €45.9m to €48.6m in the 12 months to the end of January last year.

Employee levels rose from 568 to 597 last year, with group managing director Simon Pratt confirming 80 jobs will be created this summer with the opening of an Avoca food hall and shop at Malahide Castle.

This follows the opening of an Avoca food hall at Monkstown in November, which created 30 jobs.

Avoca designs and manufactures clothing, food and home furnishings at its Wicklow base and has 10 stores and cafes on the island of Ireland.

Commenting on the group’s performance to the end of January 2011, Mr Pratt said:

“We are satisfied with the increase in revenue. In the current climate, we feel that this is a good outcome and reflects a huge commit- ment from a great team of staff and very loyal customer base.”

On 2011, he said: “2011 has proved to be slightly better again with the mild weather in the run up to the Christmas being a key ingredient.”