O’Mahony’s Booksellers back in the black

International best-selling thriller Gone Girl, by Gillian Flynn last year helped one of the largest independent booksellers in the country, O’Mahony’s Booksellers, return to profit after two years of losses.

New accounts show that O’Mahony’s Booksellers Ltd recorded pre-tax profits of €78,518 after posting losses of €231,924 in 2014 and €162,917 in 2013.

O’Mahony’s operates four book stores in the Mid-West and South-West and the firm’s gross profit last year declined marginally to €2.88m from €2.88m in the 12 months to the end of February.

The firm returned to profit after enjoying a rise of up to 10% increase in sales Christmas 2014.

Nielsen figures show the Irish book was worth €106.4m in 2014, down slightly from 2013.

O’Mahony’s accounts show it wrote off €10,000 in investments and paid €17,697 in interest. The numbers employed by the firm last year fell from 74 to 72.

Staff costs decreased from €2m to €1.9m.

Remuneration for the directors, Frank, David and Peter O’Mahony, last year increased marginally from €213,463 to €214,263.

David O’Mahony resigned in December 2014 and was replaced by Peter O’Mahony.

The figures show that the firm paid Frank O’Mahony €163,196 in rent for its flagship store on O’Connell St in Limerick and for a separate premises on Limerick’s Dock Rd.

The rent paid was down significantly on the rent of €266,396 paid to Frank O’Mahony in 2014.

The firm regards Frank O’Mahony as the ultimate controlling party of the firm.

A note attached to the accounts says the directors are satisfied, having reviewed the trading results of the business since the fiscal year end, that the results satisfy the ‘going concern’ status of the company.