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Avoca Sees Profits Rise To €1.8m

Published on Jan 21 2014 11:35 AM in Retail

Avoca Sees Profits Rise To €1.8m

After tax profits at retailer Avoca have risen to €1.8 million, up from €1 million last year, according to accounts just filed.

The results for Avoca Handweavers Limited for the 12 month period to the end of January last show that revenues increased 11.8% to €55.6 million (compared to €49.8 million last year).

Building on the success of its flagship Avoca food store in Monkstown, Co. Dublin, the directors said that the "group plans to continue to develop further unique food-market and cafe operations," as well as "develop new and distinctive ranges of fashion garments and accessories."

During the period, the group's performance was boosted by the opening of a new store in Malahide, Co. Dublin, in October 2012. Its Avoca Handweavers Shops Limited company posted a €1.9 million profit in the period, while its Avoca Handweavers NI limited posted a £101k profit.

The number of employees at the group rose to 665 (compared to 589 last year), as a result of the new opening, and wage costs stood at €16.5 million. The directors, which include members of the Pratt family, shared a directors' remuneration of €1.43 million.

© 2013 - Checkout Magazine by Stephen Wynne-Jones

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