Profits remain steady at Donnybrook Fair
Donnybrook Fair, the retail business owned by Joe and Mary Doyle, made a pretax profit of €442,734 in the year to the end of January 2012, according to accounts just filed.
The pretax profit is similar to that made the previous year though the tax charge was reduced, to just €2,034, as a result of allowances arising from the opening of a new outlet in Stillorgan, Co Dublin, during the year.
Turnover from the group was €22.39 million, up from the previous year’s €21.79 million.
Donnybrook Fair has a convenience store, restaurant and cookery school in Donnybrook, and convenience stores on Baggot Street, Dublin, in Stillorgan, Co Dublin, and in Greystones, Co Wicklow.
Satisfied with performance
Mr Doyle said he considered the outcome for the year to be “not too bad” given the economic climate. He was satisfied with the performance of all the group’s various activities.
In the accounts the directors express their thanks to the staff and suppliers for their efforts in what was a challenging year.
The group did not pay a dividend. It had accumulated profits at year’s end of €1.27 million.
The group employed an average of 227 staff during the year, up from 177 the previous year. This included two directors. Total staff costs were €5.1 million, up from €4.48 million. Directors’ remuneration, including pension contributions, were €40,098.
Speaking to The Irish Times, Mr Doyle noted that while other companies had been cutting their staff numbers, his group had been actively increasing its staff.
“We are very proud of the fact that we are able to offer such high levels of employment during this difficult time. Our ratio of staff numbers to sales is much higher than you would see in the large multinationals, due to our unending focus on quality produce and customer service.”
He said that in an economic downturn it often seems easier to cut costs. However, he felt that cutting costs meant compromising on quality.