Bumper sales in replica jerseys for 2024 senior All-Ireland hurling winners Clare and losing finalists Cork helped sport brand O’Neills to record pretax profits of €3.4 million last year.
Accounts filed by O’Neill’s Balbriggan Textiles Ltd show that pretax profits rose by 2 per cent to €3.4 million after the group’s gross profit increased by 1.5 per cent from €14.48 million to €14.69 million in 2024.
Finance director with O’Neill’s, Paul Towell, said on Tuesday that the Cork replica jersey has been a best seller across 2024 and 2025.
Another huge corporate tax take to AI’s next phase: What’s in store for 2026?
Mr Towell said that the sales of Clare replica jerseys received a second boost in 2024 with “very strong” sales of the commemorative blue Michael Cusack jersey.
READ MORE
O’Neill’s enjoys “a lingering dividend” from the Paul Mescal Normal People effect dating back from 2020, with sales of O’Neill shorts “still strong in 2024 and 2025”, he said.
Mr Towell said that 2024 “was a very good year”, where business was also boosted by replica jersey sales due to Derry City’s 2024 FAI Cup Final appearance and Cliftonville winning the Irish Cup Final.
The firm has also enjoyed “very strong sales” of Bohemians DC Fontaines’ jersey.
O’Neill’s is still dealing with the condensed GAA intercounty season, he said. “It is a negative. It is a loss of six weeks of sales and sales have more or less stabilised since last year.
O’Neills employ 1,070 employees North and South and he said that this year, the company has invested €3 million in adding 50,000sq ft capacity to its manufacturing plant in Strabane, Co Tyrone.
He said that the firm has also invested in a new sales centre at Haydock in England to serve its UK business
“We reinvest the profits back into the business and the company has never paid a dividend.”
The accounts show that operating profits declined marginally from €3.08 million to €2.95 million and more than a doubling in interest receivable to €450,042 resulted in the pretax profit of €3.4 million.
The profits also take account of non-cash depreciation charges of €339,821.
Mr Towell said that business in 2025 “has been good and revenues have increased by 5 per cent on last year”.
Numbers employed by Balbriggan Textiles increased by nine to 147 and staff costs were €6.45 million.
Accumulated profits increased to €27.92 million as cash funds increased from €9.2 million to €11.59 million.
The company recorded a post-tax profit of €2.86 million after incurring a corporation tax charge of €541,482.
