Profits increase as Gap opens fourth Irish store

Pre-tax profits at the Irish arm of US retail clothing giant Gap last year increased by 77% to €1.67m, the latest data reveals.

Boosted by the opening of the firm’s fourth store in Ireland last year, Gap Stores (Ireland) Ltd increased its revenues by 21% from €9.86m to €11.96m in the 12 months to the end of February 1 of this year.

In a post-balance event, the directors disclosed that the retail firm paid a dividend of €5m to its immediate parent, Gap (UK Holdings) Ltd in September of this year.