Kilkenny Group set for fifth straight record year

Pre-tax profits for retailers, the Kilkenny Group last year almost doubled to €1.4m, providing a record year for the group.

In 2015, the group, which has its head office in Killarney, is on course for its fifth consecutive year of record revenues.

That is according to group marketing director Greg O’Gorman, who confirmed yesterday that the family-run business last year enjoyed a 10% growth in revenue to €27.6m.

Pre-tax profit almost doubled to €1.4m in the 12 months to the end of January 31 this year, with the group recording post-tax profits of €1.2m.

Mr O’Gorman said: “Last year was a fantastic year for the group and we expect to beat the turnover figure this year.”

“The Kilkenny brand is going from strength to strength and the very positive response from our customers has given us the confidence to nurture and grow the brand.”

The O’Gormans are from Blarney and the group’s chief executive is Mr O’Gorman’s mother, Marian.

Two other members of the family, Mr O’Gorman’s sisters Michelle and Melissa, also play a central role in the operation of the business.

Currently, the group boasts a portfolio of 13 stores around Ireland, including 11 Kilkenny shops and two sister Christy’s stores, as well as two award-winning in-store cafés and an online outlet, kilkennyshop.com.

The group currently employs 240 people and Mr O’Gorman said its online business outperformed the market last year where growth rates of 25% to 30% were recorded.

Mr O’Gorman said that the group enjoyed a 50% increase in online sales, but that online sales still account for single digit overall revenues.

“We are very ambitious when it comes to our online offering and we want to be the biggest seller of Irish designed products in the world,” he said, adding that some of the group’s bestsellers include Newbridge jewellery, Nicholas Mosse pottery, Waterford Crystal, and Orla Kiely products.

He said that the group stocks around 450 brands, with Irish brands accounting for 80% of them.

Mr O’Gorman said: “There are a lot more Irish designers out there now. They are making new patterns, styles, are more contemporary, and are price-conscious.”

He said the Kilkenny Group has a healthy spread of stores and its shop on Dublin’s Nassau St remains the flagship store “and is by far the biggest and most successful store in the group”.

The group’s staff costs in 2014 increased from €5.4m to €5.8m.

Shareholder funds at the end of January 2014 stood at €14.9m. That included its cash increasing from €2.84m to €4.24m.

During fiscal 2014, the Kilkenny Group opened up new stores at Swords and in Newbridge.