Upmarket retailer Donnybrook Fair stripped back its administrative expenses and the cost of sales also fell, resulting in pretax profits of approximately €472,600
Jan 16 2012
Chef Marco Pierre White standing outside Donnybrook Fair in Dublin 4, which recorded a turnaround performance in 2010 with a profit of E426,000
Donnybrook Fair made a profit of €426,000 in the year to the end of January 2011, accounts filed at the Companies Office show.
The upmarket grocery group’s performance represented a turnaround on the previous year, when it recorded a loss of almost €815,000.
The retailer, owned and managed by Joe Doyle, actually recorded a lower turnover that was down by 18% on the preceding year to almost €21.8 million. However the group had managed to strip back its administrative expenses and the cost of sales also fell, which resulted in the company recording pretax profits of approximately €472,600.
Directors described 2010 as “undoubtedly a challenging year for the retail sector”, but added that the company remained “very positive” about its performance, praising the support of staff and suppliers.
Accounts show the company has shareholders’ funds of €835,300, which have risen significantly compared to the previous year, while it also reduced its debt during the period.
The group’s flagship store is based on the Morehampton Road in Donnybrook, where it also owns a restaurant and cookery school. The group which produces food in-house also runs smaller shops in Baggot Street and Stillorgan, Dublin; and Greystones, Co Wicklow.
Owner Joe Doyle, who was originally a butcher, bought the store on Morehampton Road in 1991 and gradually expanded over the years. He and his wife Mary are now directors of the company.