Gowan Group in profit despite weak home goods sector

The managing director of one of the largest family-owned businesses in the country, the Gowan Group, said yesterday that the scarcity of new housing has held back the performance of its appliance and consumer electronics business.

Michael Dwan made his comment as he welcomed a return to profit for the group in 2014.

Newly filed accounts for Gowan Group Ltd show that the group recorded the pre-tax profit of €1.39m after recording a pre-tax loss of €5.4m in 2013, a positive swing of €6.79m. Last year revenues increased by 29% to €134m.