Profits at the uniform supply firm that counts the Garda and the Irish Prison Service amongst its major customers dropped 34% in 2014.
Figures lodged by James Boylan Safety Ltd — JBS —show pre-tax profits fell to €545,826.
Established in 1944, the JBS Group is a market leader in the supply of safety uniforms, hygiene and specialist products, and services to 300 companies in Ireland.
It operates from bases in Cork, Belfast, Derry, and Dublin, as well as from its Monaghan head office where it has a 60,000 sq ft of state-of-the-art warehouses.
Accumulated profits topped €6.3m at the end of 2014. Purchase orders show Gardaí purchased €1.77m worth of goods from JBS and the Irish Prison Service bought over €740,000 worth of goods in 2014.
The Garda contract is the largest uniform contract in Ireland — involving over 300,000 garments for the force. At the end of 2014, the cash pile for JBS had fallen from €793,403 to €275,029.
The pre-tax profit takes account of non-cash depreciation costs of €67,024.
Numbers employed by the firm increased from 33 to 37 in the year.
Staff costs increased from €1.14m to €1.29m, while pay for directors totalled €159,994. In 2014, the firm doubled its donations to charities, to €101,739.
The figures show the firm’s distribution costs totalled €304,839, while administration expenses increased sharply from €2.28m to €3.93m. It also owns €407,415 in financial assets.
After paying corporation tax of €46,203, the firm had a net profit of €499,623.
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