Investment spend eats into K O’Connell’s fish profits

Investment spend dragged accumulated profits at well-known Cork fishmonger K O’Connell Fish Merchants down by over €122,000 in its last financial year, newly-filed accounts show.

Accounts for the 12 months to the end of last June show the company’s accumulated profits fell from €808,148 to €685,610. The filings show the business recorded revenues of €2.22m in 2015 but no revenue figure is provided for last year.

The drop in profit reflected the spend on the business last year, with management carrying out a €250,000-plus revamp, which it added is already paying dividends.