Profits at Kilkenny Design Group, the Irish fashion and design retailer owned by the O’Gorman family, surged to more than €1.1 million last year, accounts filed with the Companies Registration Office show.
The “total comprehensive profit” posted by Clydaville Holdings was €1,113,918 in the year ended January 26th, 2025, which was up more than sixteenfold from just €69,364 in the previous year.
Group profit on operating activities more than doubled from €504,244 to €1,341,024. The directors did not propose to pay a dividend.
Kilkenny Design Group, which is led by chief executive Evelyn Moynihan, operates 18 brick-and-mortar stores here. Locations include Dublin, Killarney, Douglas, Ennis, Galway, Trim and Kildare Village.
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Turnover rose marginally from €31.4 million to €32.2 million, while the cost of goods sold increased from €15.4 million to €16.2 million. Other income nearly doubled from €758,049 to almost €1.5 million.
The company said it was operating in an environment of “economic volatility” and had “faced headwinds that were beyond our control”.
“The ongoing global cost-of-living crisis added pressures on our cost structures, posing additional challenges to the performance of the business,” it said. “The business delivered a turnaround in the current year, returning to strong profitability compared to a small profit in the prior year.
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“This improvement reflects the positive impact of strategic initiatives and decisive actions taken by management, including proactive cost-saving strategies, margin-enhancing activities and the successful introduction of new brands and new own-brand ranges into the portfolio.”
The group said it has taken “decisive steps” to restructure operations, enhance cost efficiency, and implement “innovative initiatives” aimed at driving margin improvement.
The company successfully restructured its debt during the year, resulting in improved financial flexibility. “As a result, the company is now well-positioned to meet its debt obligations as they fall due,” it said.
Looking ahead, the company said it will “continue to adapt to evolving consumer trends and market conditions”.
“Key focus areas include digital transformation, customer engagement, product innovation, colleague training and engagement, operational efficiency and sustainability initiatives,” it said. “These measures reflect our commitment to long-term sustainability and shareholder value.”
It said “global unrest” and a global costs of living crisis “continue to be the primary economic risk”, in Ireland and worldwide. “The directors acknowledge the ongoing economic uncertainty and its potential impact on the business.”
Subsequent to the year end, a loan facility of €2.48 million, which was due to expire in August 2025, was refinanced in July 2025.
The average number of employees, including the directors, during the year was 216, which represented a reduction of three people. The group spent €7.3 million on its staff during the year, which was down from €8.3 million.
