Members of the McKenna family, who own electrical appliance and tech retailer Power City, last year shared dividends of €20 million.
New Accounts show Power City Ltd paid out the €20 million dividends as pretax profit declined by 13 per cent to €4.16 million in the 12 months to the end of September last.
The drop in profit followed revenue dipping marginally by 1.7 per cent from €92.85 million to €91.3 million. The company paid out a dividend of €1 million in 2024
The firm’s accumulated profits stood at €123.28 million at the end of September 2024.
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After the dividend payout, offset by a post-tax profit of €3.7 million last year, the firm’s accumulated profits at the end of September 2025 totalled €106.65 million.
On the firm’s 2025 performance, the directors said in a note with the accounts that trading activity during the period had continued satisfactorily.
The note said they were confident the company could continue to trade satisfactorily for the foreseeable future.
The €4.16 million in pretax profit last year followed pretax profit of €4.79 million in the previous year.
The company recorded an operating profit of €3.28 million last year and benefited from other finance income of €879,000.
This was made up of €182,000 in interest received on “deposit account” and €697,000 in net interest income on pension-scheme assets.
The company recorded a post-tax profit of €3.7 million after recording a corporation tax charge of €455,000.
The net cash generated from operating activities last year totalled €11.8 million.
The firm had an outlay of €357,000 on the purchase of tangible fixed assets and this followed an outlay of €869,000 under that heading in fiscal 2024.
The directors, Liam T McKenna, Dermot B McKenna and Sinéad McKenna, shared aggregate pay of €1.16 million last year which was made up of €918,000 in directors’ emoluments and €251,000 in post-employment benefits.
The profit last year takes account of non-cash depreciation costs of €1.7 million.
Numbers employed reduced from 231 to 214 as staff costs increased slightly from €10.56 million to €10.6 million.
Cash funds decreased from €39.54 million to €31 million during the year.
Shareholder funds totalled €107.97 million.
Power City’s 11 stores are located in the eastern part of Ireland with its Dublin stores at Tallaght, Sallynoggin, Blanchardstown, Finglas, Coolock, Fonthill, Carrickmines and Swords, while there are also stores in Bray, Naas and Drogheda.
