Wedding surge helps boost Franc’s profits after 71% dip

A major jump in the number of people getting married here last year resulted in ‘wedding bliss’ for the firm operated by the country’s best known wedding planner, Franc.

New figures show that the events firm led by Fermoy man Peter Kelly, aka Franc, increased its accumulated profits from €104,655 to €116,512 in the 12 months to the end of June last.

This followed accumulated profits plunging at the firm by 71% or €254,155 from €358,810 to €104,655 in the 2013 period.

The turnaround at the firm last year came on the back of a 6.6% increase in the number of weddings here – going from 20,680 to 22,045.

Figures from the Central Statistics Office show the numbers of couples getting hitched increased for the third year running and the highest number getting married since 2008 – just short of the 22,756 marriages in 2007 which was the highest figure of modern times.

Also, the most recent annual wedding survey by Mrs2be.ie shows the average wedding day spend was €19,625 with an additional €4,955 spent on the honeymoon.

Last year, the cash pile at Franc’s firm increased more than three fold going from €6,162 to €21,146.

However, the cash balance represents a sizeable drop on the €301,194 in cash in the company at the end of June 2010.

Leading wedding designer and planner, Franc is well known through his Franc’s DIY Brides programme broadcast on RTÉ television, which attracted more than 380,000 viewers.

The firm is owned on a 50/50 basis between Mr Kelly and his wife, Eadaoin Morrish.

The value of the firm’s tangible assets last year reduced from €61,852 to €37,064.

The abridged accounts show that the value of the firm’s stock reduced from €95,187 to €47,400 with monies owed by debtors increasing from €38,950 to €72,883.

Mr Kelly declined to comment yesterday on the accounts when contacted by phone.

 


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