Operating profits at Avoca to increase 50% to €3.3m

Operating profits at one of Ireland’s best known brands and family-run businesses, Avoca have rocketed by over 50% to over €3.3m this year.

According to chief executive of Avoca, Simon Pratt, profits at the group in the year ending on January 31 next are projected to have increased by over 50% as revenues increased by 5% to over €60m.

Mr Pratt was commenting on new accounts just filed by Avoca Handweavers Ltd and subsidiaries which show that pre-tax profits reduced by 25% from €2m to €1.54m in the 12 months to the end of January 31 last.