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Profits Rise 28% At Dunnes Stores George's St Operation

Profits at the Dunnes Stores (George's Street) Limited business rose 28.5% in the year to end 2 Feb 2013, according to accounts just filed.

Profit on ordinary activities before taxation stood at €7.66 million for the period, up from €5.96 million a year earlier, the accounts reveal.

After deducting taxation of €1.84 million, an amount of €5.82 million was transferred to the company's profit and loss reserves.

Turnover at the business stood at €117.87 million, up from €116.26 million a year earlier.

A total of 362 people were employed by the business in the period, an increase on the total in 2012 (345). Staff costs were €9.71 million, up from €9.45 million the previous year.

Dunnes Stores (Georges Street) Limited is one of a myriad of companies that comprise the Dunnes portfolio. According to the directors report, the "principle risks and uncertainties facing the group are those associated with trading in the current economic climate."

Recently, The Irish Times reported that Robert Heron, a partner at legal firm Matheson, is understood to have taken up a position with Dunnes Stores. His appointment follows two other high profile appointments for the retailer, with Richard Collins, former finance director at Musgrave Operating Partners Ireland, and Joe Webb, former chief executive of Independent News & Media's Irish division, also joining Dunnes.

© 2013 - Checkout Magazine by Stephen Wynne-Jones

 

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