Profits at Irish arm of Tiffany lose some of their sparkle

The directors state that the company recorded a net pre-tax profit margin of 6% compared to 5% in 2022

The drop in pre-tax profits at Swarovski Ireland Ltd came as revenues dipped by 1% from €4.59m to €4.55m in a flat year revenue-wise for the company. File photo

Pre-tax profits at the Irish business of jeweller and luxury goods retailer, Tiffany last year lost some of their sparkle as pre-tax profits almost halved to €155,000. 

New accounts filed by Tiffany’s & Co show that the profits tumbled as revenues declined by 17% from €5.37m to €4.43m. The pre-tax profits of €155,000 for 2023 follow pre-tax profits of €281,000 for 2022.