Pre-tax profits at Donnybrook Fair decline 33% to €406,336

Pre-tax profits at high-end grocer Donnybrook Fair declined 33 per cent to €406,336 for the year ended January 31, 2015, despite a slight increase in revenues to €23.5 million.

Accounts filed with Companies Registration Office show turnover at Donnybrook Fair increased from €23 million in 2013 to €23.5 million for the year ended 31 January 2015.

Profit after tax amounted to €314,924 for the last financial year, down from €517,645 the previous year.

The company, which has six outlets in Dublin and Wicklow, reported an operating profit of €614,345 in 2014 compared to €663,473 the previous year.

This followed a rise in the cost of sales from €15.1 million in the 12 months to the end of January 2014 to €15.9 million in the last financial year.

During the year the group, owned by husband and wife team Joe and Mary Doyle, undertook restructuring and purchased certain stores from which it trades. As a result, net debt significantly increased from €1.7 million at the end of January 2014 to €9.3 million at the end of last January.

According to the accounts, Donnybrook Fair had 173 employees in the year ending January 31, 2015. Employee costs including wages and social security amounted to €4.05 million during the year.