Profits double at DID Electrical to €1.3m

Profits boosted by opening of a new flagship store in Limerick City 

DID Electrical is owned by tech retail group and Apple premium partner, Select, which purchased the business from the Houlihan family in 2023.

Pre-tax profits more than doubled at DID Electrical last year to €1.3m, boosted by the opening of a new flagship store in Limerick City.

New accounts filed by DID Electrical Appliances Ltd show profits increased by 151% as revenues fell by 29.5%, from €142.17m to €100.69m, in the 12 months to the end of September last.

The revenue figures are skewed as the prior period was for an 18-month period.

The pre-tax profits of €1.3m follow pre-tax profits of €519,672 for the prior 18-month period, where profits were impacted by exceptional costs of €3.34m.

DID Electrical is owned by tech retail group and Apple premium partner, Select, which purchased the business from the Houlihan family in 2023.

DID Electrical — which operates 24 stores across the country — opened its new flagship store at the Childers Road Retail Park in Limerick in July 2025.

The directors say they “are satisfied with the results of the company and that the decisions and investment made will benefit the company and work towards ensuring the medium and long-term growth”.

On the company’s future developments, the directors say “pressures remain high in the Irish retail and corporate business sectors as challenges surrounding timing of new product development continue to strain the industry”.

Despite this, the directors are confident the business will be able to deliver on these strategic points.

Numbers employed reduced from 366 to 344, as staff costs declined from €18.02m to €12.52m.

The profit takes account of combined non-cash amortisation and depreciation costs of €733,884 and operating lease charges of €3.18m.

The firm paid out dividends of €150,000 and this compared to dividends of €12.5m for the prior 18 months that included the Houlihan family sharing a €11m dividend in specie payout made up of freehold premises assets.

At the end of September last, the firm had accumulated profits of €3.72m. Cash funds reduced from €4.3m to €3.18m.

Sales in Ireland totalled €214.86m, made up of DID Electrical and Select Store sales for the 12 month period.

Pre-tax profits declined by 27% to €2m as directors report “sales in the Irish retail and business market sectors performed very well”.