Blarney Woollen Mills Group posts profits of €8.4m    

Revenues from manufacturing knitwear at Blarney Woollen Mills increased by 43% to €2.6m. File picture: Denis Minihane

Blarney Woollen Mills Group, which operates the Meadows and Byrne retail chain as well as hotels, boosted its profits to almost €8.4m last year. 

New accounts show that Blarney Woollen Mills Group Ltd and subsidiaries posted revenues of €35.7m in the 12 months to the end of January 
that were up from revenues of €24.7m in the previous financial year.   

The group, which also operates the Bunratty Castle Hotel, tapped €1.75m in insurance after a fire caused extensive damage at the Co. Clare hotel in June 2021. The Blarney-headquartered group also benefited from almost €4.6m in Covid wage subsidy supports. 

Along with the Blarney Woollen Mills and Meadows and Byrne shops, the group also operates a hotel at Blarney in Cork. 

The directors in the accounts said the business had recovered from the Covid-19 shutdowns, but that inflation was an issue.

“Demand for the company’s products remains strong, however the sourcing and pricing of key inputs remains challenging,” the directors said. 

The accounts - signed off by directors Freda Hayes and Fergus Gately on November 23 - show retail sales rose by 36% to €26.5m, while sales from the hotels and restaurants more than doubled to €6.4m. Revenues from manufacturing knitwear increased by 43% to €2.6m.