Des Kelly Interiors sees revenue level off after plummeting 50% since 2008

Revenues at one of the best-known names in retail, Des Kelly Interiors have levelled off after plummeting 50% since 2008.

New accounts show that Des Kelly Interiors Ltd returned to pre-tax profit in the 12 months to the end of April 2013 with a profit of €421,144 after recording a pre-tax loss of €102,253 in 2012.

The 2012 loss followed a property write-down. Des Kelly Interiors operates 12 retail outlets in Dublin, Meath and Kildare; employing 100 people and the return to profit last year came in spite of gross profits reducing by 9% to €4.7m.

The carpet and furniture retail firm is over 50 years in business and is led by 73-year old Des Kelly who, according to a company spokesman, “is very much hands on — he is a young 73-year-old”.

The spokesman added that the years between 2008 and 2013 “were very tough, where we had a cumulative 50% reduction in revenues and had to adjust the business accordingly. The adjustments included pay cuts and this had to be done in order to survive”.

However, he said revenues for the first six months of this year compared to the same period last year show a levelling off in turnover.

“This gives us hope that we have hit the bottom and can look forward to an increase in revenues. August to November is normally the busiest time of the year for the business.

“We have maintained margins and continued to make operating profits. The business is well run and was able to fall back on reserves built up during the good years to allow us make the adjustments.”

The business maintained profitability in the 12 months to the end of April 2014.

The group’s stores are in, Glasnevin, Walkinstown, Swords, Coolock, Donabate, Leixlip, Sallins, Clonsilla, Phibsborough, Ashbourne, Navan and Sandyford. The figures show the firm recorded a post-tax loss last year of €262,277 after paying tax of €683,421.