Pretax profits at the Irish arm of women’s activewear brand Sweaty Betty last year increased more than three fold to €441,506.
New accounts filed by Sweaty Betty Ireland Ltd show that the retailer increased profits as revenues rose by 4 per cent to €4.35 million.
The pretax profits of €441,506 are a 266 per cent increase on 2023.
During the year the company doubled its workforce to 38 and at year end the firm operated three stand alone outlets in Ireland in Dublin, Kildare Village and Galway.
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The UK brand is a favourite of celebrities including Jennifer Aniston, Halle Berry, Jessica Alba, Reese Witherspoon and the UK’s Princess of Wales, Kate Middleton.
Last year the Irish unit enjoyed the first full 12 month performance of its first stand-alone store in Dublin city centre at 32-33 South Anne Street and its Galway store which both opened in 2023.
The company’s outlet store at Kildare Village opened in 2021 while it also operates a concession out of Brown Thomas in Dublin.
The directors state that they plan to continue the company’s present activities and current trading levels.
The company recorded a post tax profit of €376,955 after incurring a corporation tax charge of €64,551.
At the end of December, the company’s accumulated profits totalled €1.08 million. Cash funds increased from €880,776 to €1.15 million.
Sweaty Betty was founded in London in 1998, and has expanded internationally in recent years, helped in part by the growth in popularity of athleisurewear.
It has 71 stores in London and the rest of the UK with a presence in the US, Canada, Hong Kong, Germany and New Zealand. The company was acquired by US-based clothing manufacturer Wolverine Worldwide for £300 million in 2021.
Separate accounts lodged for the UK arm of Sweaty Betty show that it returned to a pretax profit of £1.56 million in 2024.
Revenues at the UK arm, Sweaty Betty Ltd in 2024 declined from £144.25 million to £140.4 million. Numbers employed in 2024 reduced from 990 to 903.
