ONE of the country’s oldest firms, Dubarry, last year enjoyed significant growth in profits and revenues due to a 44% increase in overseas sales.
Dubarry’s strong export performance resulted in the company increasing its pre-tax profits by 13% after revenues topped €20 million to the end of November 30 last.
According to accounts just filed by the Galway-based leisure producer, they show that the company’s pre-tax profits increased from €1.72m to €1.95m.
The filings by the leisure producer’s holding company, Glentawn Investments Ltd, show that the company’s revenues increased by 27% from €16.1m to €20.4m.
According to Marketing Director of Dubarry, Michael Walsh, Dubarry saw significant growth in export markets in the context of a continually declining home market.
In contrast to the 44% growth overseas, Mr Walsh said that sales in Ireland declined by 10%. Mr Walsh said: “The retail trading situation remains very challenging in Ireland.”
Mr Walsh said that the factors behind the increase in exports sales was growth in main export markets of Britain, USA and continental Europe, and Dubarry’s new clothing range beginning to gain momentum in the international marketplace.
Mr Walsh confirmed that Dubarry is looking for 15% growth this year on its 2010 performance.
Mr Walsh also confirmed that the company’s growth would be accompanied by the creation of new jobs at Dubarry.
He said: “We have recently made a Ballinasloe-based senior appointment to look after our International Digital Marketing and with growth plans for 2012 and beyond we should see a number of new positions created both in Ireland and in our UK & US subsidiaries.”
According to the directors, they are satisfied with the company’s ability to manage and control risks facing the company and are satisfied with the performance of the company for the year.
The accounts show that the numbers the company employ remained static last year at 52 with 19 in administration, 15 in marketing, 14 in production and four in research and development.
The figures show that the company’s staff costs, including directors’ remuneration, increased from €2.4m to €5.3m.
The four directors of the firm are Michael Larkin, Eamon Fagan, Michael Walsh and Jim Ward who resigned in October of last year.
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