Revenue at Pippa O’Connor’s fashion business increases to record €2.7m

Pre-tax profits declined by 29% to €103,150

Businesswoman and former model Pippa O’Connor, co-owner of fashion company Poco.

Businesswoman and former model Pippa O’Connor, co-owner of fashion company Poco.

 

The group behind Pippa O’Connor’s Poco brand last year increased its revenues by 6 per cent to a record €2.7 million in spite of the pandemic .

The businesswoman and former model established her Poco brand in 2016 and revenue for her business for the 12 months to the end of October last equate to a weekly average revenue of €51,952.

The accounts filed by Ms O’Connor’s BOPOC Holdings Ltd show that pre-tax profits declined by 29 per cent to €103,150.

Ms O’Connor and her husband, Brian Ormond, own and operate the group that directly employed 20 people at the end of October last.

The couple last year shared pay of €412,961 made up of remuneration of €388,961 and pension contributions of €24,000. 

Since her Poco by Pippa brand launched in 2016, it has sold 149,000 pairs of jeans with an average price of €100. It has also sold 23,500 sweatshirts and T-shirts as it benefited from the working from home trend.

Future activities

The accounts said in planning future activities, Ms O’Connor and Mr Ormond “will seek to develop the company’s activities whilst managing the difficult period caused by the pandemic” and that the results were in line with expectations.

Along with sales in shops and online, the company also engages in promotional activities and investments. 

The company recorded operating profits of €182,102 and interest payments of €78,952 reduced profits to a pre-tax profit of €103,150.

Staff costs at the group last year totalled €582,117. The group has an investment property with a book value of €1.98 million.

Accumulated profits totalled €1.98 million at the end of October last.