Hughes & Hughes books turns small profit

The company behind defunct bookseller Hughes & Hughes recorded a modest profit last year after slashing costs.

Accounts for two years for Sivota Ltd which were filed with Companies Office show it had a small profit of €6,089 in the 12 months to the end of February. In the previous year, it posted a loss of €494,874. Lease costs fell from €477,500 to €313,333.

Derek Hughes, founder of Hughes & Hughes, sold his one third shareholding in the firm in March 2014 to businessmen Pierce Molony and Aidan Masterson, who are behind the Bus Stop newsagent business.