Kilkenny Group profits almost double to €1.5m

Profits at the Kilkenny Group almost doubled last year to €1.5m.

New accounts filed by the group’s Clydaville-Investments Ltd show the business posted a 70% increase in pre-tax profits as revenues increased 9% to €27.8m in the 12 months to the end of February 2015.

“In light of the continuing difficult economic climate prevailing, the directors are very satisfied with the operating results which show an increase in sales and profitability and net funds,” the directors say.

“Going forward in this trading environment, the directors will continue to try to maintain and increase the company’s sales and look for future potential growth opportunities while also reducing costs.”

Numbers employed by the group last year increased from 226 to 249 and last year’s results represented the group’s fifth consecutive year in generating record revenues.

The business is owned by the Blarney-based O’Gorman family.

The group’s staff costs increased from €5.6m to €6.56m. Directors’ pay fell from €443,631 to €243,729.

Headquartered in Killarney, the company has 13 stores, 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.